MetLife Investment Management LLC Trims Stake in Lockheed Martin Corporation $LMT

Key Points

• MetLife Investment Management LLC has reduced its stake in Lockheed Martin by 2.4%, selling 1,438 shares and retaining a total of 57,377 shares valued at $25,631,000.
• A number of institutional investors have modified their holdings, with Synovus Financial Corp increasing its stake by 1.7% and ICONIQ Capital LLC raising theirs by 21.6% in the first quarter.
• Lockheed Martin recently reported quarterly earnings of $7.29 EPS, beating estimates, and announced a quarterly dividend of $3.30 per share with a yield of 3.0%.

MetLife Investment Management LLC reduced its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,377 shares of the aerospace company's stock after selling 1,438 shares during the period. MetLife Investment Management LLC's holdings in Lockheed Martin were worth $25,631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LMT. TruNorth Capital Management LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at about $31,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin in the fourth quarter worth about $35,000. Banque Transatlantique SA purchased a new position in Lockheed Martin in the fourth quarter worth about $43,000. EQ Wealth Advisors LLC bought a new position in shares of Lockheed Martin in the first quarter worth approximately $43,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new position in shares of Lockheed Martin in the first quarter worth approximately $45,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $1.18 on Wednesday, reaching $454.28. The stock had a trading volume of 1,293,770 shares, compared to its average volume of 1,586,460. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The stock has a market cap of $106.06 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.60 and a beta of 0.27. The company has a 50 day simple moving average of $447.52 and a 200 day simple moving average of $456.40.

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

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.9%. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LMT shares. Susquehanna reduced their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, Lockheed Martin has a consensus rating of "Hold" and a consensus price target of $506.35.

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.