First Manhattan CO. LLC. Sells 673 Shares of Lockheed Martin Corporation $LMT

Key Points

• First Manhattan CO. LLC has reduced its stakes in Lockheed Martin Corporation by 14.1%, now holding 4,103 shares after selling 673 shares in the first quarter, valued at approximately $1.83 million.
• Lockheed Martin reported earnings per share of $7.29 for the last quarter, exceeding analysts' estimates of $6.57, despite a slight decrease in revenue year-over-year.
• The company announced a quarterly dividend of $3.30 per share, representing a 2.9% dividend yield, with the payout slated for September 26th.

First Manhattan CO. LLC. decreased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 14.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,103 shares of the aerospace company's stock after selling 673 shares during the quarter. First Manhattan CO. LLC.'s holdings in Lockheed Martin were worth $1,833,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in shares of Lockheed Martin in the first quarter valued at approximately $31,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter valued at $35,000. EQ Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth $43,000. Ritter Daniher Financial Advisory LLC DE bought a new position in shares of Lockheed Martin in the first quarter worth $45,000. Finally, Dagco Inc. purchased a new position in shares of Lockheed Martin in the first quarter valued at $50,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Price Performance

NYSE LMT traded down $3.74 on Wednesday, reaching $448.76. 1,535,279 shares of the company's stock traded hands, compared to its average volume of 1,420,901. The stock has a market cap of $104.77 billion, a PE ratio of 25.27, a P/E/G ratio of 1.60 and a beta of 0.26. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The stock has a 50-day simple moving average of $446.29 and a 200 day simple moving average of $456.90. 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 (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the business posted $7.11 EPS. The business's quarterly revenue 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, research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.9%. Lockheed Martin's payout ratio is currently 74.32%.

Analyst Upgrades and Downgrades

Several research analysts have commented on LMT shares. Royal Bank Of Canada cut their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Bank of America lowered their target price on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research note on Thursday, August 21st. UBS Group reduced their price target on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Finally, Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $494.00.

Lockheed Martin Profile

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.