Lockheed Martin Corporation $LMT Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH has reduced its stake in Lockheed Martin Corporation by 64.0%, selling 30,475 shares and now holding 17,114 shares valued at approximately $7.93 million.
• Wall Street analysts have adjusted their price targets for Lockheed Martin, with ratings shifting from "buy" to "hold," and prices dropping to between $440.00 and $500.00 across multiple firms.
• Lockheed Martin reported earnings of $7.29 per share for the last quarter, exceeding analysts' expectations, although its revenue fell short of predictions, coming in at $18.16 billion.

Park National Corp OH reduced its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 64.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,114 shares of the aerospace company's stock after selling 30,475 shares during the period. Park National Corp OH's holdings in Lockheed Martin were worth $7,926,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. TruNorth Capital Management LLC purchased a new position in Lockheed Martin in the first quarter worth approximately $31,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at $35,000. EQ Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin in the first quarter valued at $43,000. Ritter Daniher Financial Advisory LLC DE acquired a new stake in shares of Lockheed Martin in the first quarter valued at $45,000. Finally, McIlrath & Eck LLC raised its stake in Lockheed Martin by 161.0% in the first quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock valued at $48,000 after buying an additional 66 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 0.4%

Shares of NYSE LMT traded up $2.03 during trading on Monday, hitting $473.34. 1,148,188 shares of the company traded hands, compared to its average volume of 1,301,095. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The company has a 50-day moving average price of $446.48 and a 200-day moving average price of $458.57. The firm has a market capitalization of $110.51 billion, a P/E ratio of 26.65, a P/E/G ratio of 1.66 and a beta of 0.26. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

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 (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the previous year, the company earned $7.11 EPS. The business's quarterly revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.8%. Lockheed Martin's payout ratio is presently 74.32%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Vertical Research reaffirmed a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a report on Tuesday, July 22nd. TD Cowen restated a "hold" rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Susquehanna cut their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Company 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.