Lockheed Martin Corporation $LMT Stake Reduced by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. significantly reduced its stake in Lockheed Martin by 65.4%, selling over 1.2 million shares and holding approximately 652,829 shares after the sale.
• Lockheed Martin reported $7.29 earnings per share for the most recent quarter, exceeding analyst expectations, although its revenue of $18.16 billion fell short of projections.
• The company announced a quarterly dividend of $3.30 per share, scheduled for payout on September 26th, representing an annual yield of 3.0%.

Ameriprise Financial Inc. cut its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 65.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 652,829 shares of the aerospace company's stock after selling 1,235,914 shares during the quarter. Ameriprise Financial Inc. owned about 0.28% of Lockheed Martin worth $286,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. OMNI 360 Wealth Inc. raised its position in Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after acquiring an additional 22 shares in the last quarter. 49 Wealth Management LLC raised its position in Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after acquiring an additional 22 shares in the last quarter. Tyler Stone Wealth Management raised its position in Lockheed Martin by 3.3% in the first quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock worth $306,000 after acquiring an additional 22 shares in the last quarter. Tealwood Asset Management Inc. raised its position in Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock worth $2,559,000 after acquiring an additional 23 shares in the last quarter. Finally, Southland Equity Partners LLC raised its position in Lockheed Martin by 3.1% in the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock worth $342,000 after acquiring an additional 23 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 0.3%

NYSE:LMT opened at $445.7320 on Friday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The stock's 50-day moving average is $448.65 and its two-hundred day moving average is $456.29. The stock has a market cap of $104.06 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 1.57 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the previous year, the business posted $7.11 EPS. The business's revenue for the quarter was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is 74.32%.

Analysts Set New Price Targets

Several brokerages have commented on LMT. Jefferies Financial Group dropped their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. TD Cowen restated a "hold" rating and set a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Finally, Susquehanna cut their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of "Hold" and an average target price of $506.35.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

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