Lockheed Martin Corporation $LMT Stock: Heritage Investors Management Corp Trims Stake

Key Points

• Heritage Investors Management Corp. reduced its Lockheed Martin stake by 10.8% in the third quarter, selling 3,076 shares and retaining 25,320 shares valued at approximately $12.9 million. Institutional investors collectively own 74.19% of the company.
• Lockheed Martin reported quarterly EPS of $7.97, beating estimates, while revenue rose 11.3% year over year to $20.71 billion. The company also increased its quarterly dividend to $3.60 per share, representing a 2.3% yield.
• The stock has a “Moderate Buy” consensus rating and a $638.05 average price target, with potential support from a $292 billion backlog, F-35 production and a possible $2.1 billion Patriot missile package for Ukraine.

Heritage Investors Management Corp lowered its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,320 shares of the aerospace company's stock after selling 3,076 shares during the quarter. Heritage Investors Management Corp's holdings in Lockheed Martin were worth $12,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Cahaba Wealth Management Inc. grew its holdings in Lockheed Martin by 3.2% during the 3rd quarter. Cahaba Wealth Management Inc. now owns 542 shares of the aerospace company's stock valued at $276,000 after buying an additional 17 shares in the last quarter. Beacon Capital Management LLC raised its holdings in shares of Lockheed Martin by 4.5% during the 2nd quarter. Beacon Capital Management LLC now owns 442 shares of the aerospace company's stock worth $225,000 after acquiring an additional 19 shares in the last quarter. YANKCOM Partnership raised its holdings in shares of Lockheed Martin by 0.7% during the 3rd quarter. YANKCOM Partnership now owns 2,575 shares of the aerospace company's stock worth $1,311,000 after acquiring an additional 19 shares in the last quarter. Capital Square LLC raised its holdings in shares of Lockheed Martin by 1.1% during the 3rd quarter. Capital Square LLC now owns 1,793 shares of the aerospace company's stock worth $913,000 after acquiring an additional 19 shares in the last quarter. Finally, Boomfish Wealth Group LLC boosted its position in shares of Lockheed Martin by 0.3% during the 3rd quarter. Boomfish Wealth Group LLC now owns 5,748 shares of the aerospace company's stock valued at $2,927,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Trending Headlines about Lockheed Martin

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: The U.S. State Department approved a possible $2.1 billion Patriot missile package for Ukraine, naming Lockheed Martin as the principal contractor. The package includes 500 PAC-3 MSE interceptors, spare parts, logistics and support, and will be financed by allied and Ukrainian funds rather than direct U.S. funding. The sale could add to LMT’s missile backlog, although no delivery schedule was provided. U.S. approves $2.1 billion Patriot missile sale to Ukraine
• Positive Sentiment: Recent coverage highlights Lockheed Martin’s record $292 billion backlog, continued F-35 production at 156 aircraft annually and a 10-year F-35 agreement with the Pentagon. These developments improve long-term revenue visibility and support the case for sustained military demand. Lockheed Martin long-term investor takeaways
• Positive Sentiment: Analysts and investors are also encouraged by potentially better Department of Defense contract terms, with higher-margin Missiles and Fire Control activities expected to improve profitability and reduce development and execution risk. Lockheed Martin backlog analysis
• Neutral Sentiment: Analysts remain divided on LMT versus faster-growing defense companies such as Kratos Defense. While the backlog and F-35 progress are favorable, valuation, cash generation and uncertainty over future U.S. defense budgets remain key considerations. Kratos Defense versus Lockheed Martin analysis
• Negative Sentiment: After a roughly 27% October rally, some investors may be taking profits. Coverage also flags gradually weakening margins and warns that management’s January update on profitability and execution could determine whether the recent advance is sustainable. Lockheed Martin October rally analysis

Lockheed Martin Stock Up 0.1%

Lockheed Martin stock opened at $637.60 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 2.04. The firm has a market cap of $147.29 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.35 and a beta of 0.09. The business has a fifty day moving average of $544.17 and a two-hundred day moving average of $568.87. Lockheed Martin Corporation has a twelve month low of $437.25 and a twelve month high of $692.00.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, beating the consensus estimate of $7.52 by $0.45. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The business had revenue of $20.71 billion during the quarter, compared to analyst estimates of $20.48 billion. During the same period in the prior year, the firm posted $6.95 earnings per share. The company's quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts forecast that Lockheed Martin Corporation will post 30.66 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a $3.60 dividend. This is an increase from Lockheed Martin's previous quarterly dividend of $3.45. This represents a $14.40 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, December 1st. Lockheed Martin's dividend payout ratio is presently 51.15%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LMT shares. Rothschild & Co Redburn initiated coverage on shares of Lockheed Martin in a report on Tuesday, October 6th. They issued a "buy" rating and a $650.00 target price for the company. Robert W. Baird set a $700.00 price target on shares of Lockheed Martin in a research note on Friday, July 24th. Wells Fargo & Company set a $600.00 price target on shares of Lockheed Martin in a research note on Monday, July 27th. TD Cowen lowered their price objective on shares of Lockheed Martin from $600.00 to $570.00 and set a "hold" rating for the company in a research report on Friday, October 9th. Finally, Citigroup boosted their target price on shares of Lockheed Martin from $691.00 to $706.00 and gave the stock a "buy" rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $638.05.

Lockheed Martin Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.