Lockheed Martin Corporation $LMT Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Lockheed Martin Corporation by 19.9%, selling 79,264 shares to hold approximately 318,225 shares valued at $142.15 million.
• Research analysts have lowered price targets for Lockheed Martin, with Jefferies cutting its target from $510 to $500, while UBS reduced its target from $498 to $453, resulting in an average price target of $506.35.
• Lockheed Martin declared a quarterly dividend of $3.30 per share, representing an annualized yield of 3.0%, with the ex-dividend date set for September 2nd.

Price T Rowe Associates Inc. MD cut its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 19.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,225 shares of the aerospace company's stock after selling 79,264 shares during the period. Price T Rowe Associates Inc. MD owned 0.14% of Lockheed Martin worth $142,155,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Lockheed Martin by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after purchasing an additional 560,457 shares during the last quarter. Northern Trust Corp increased its stake in Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after purchasing an additional 134,662 shares during the last quarter. Invesco Ltd. increased its stake in Lockheed Martin by 0.6% during the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares during the last quarter. GAMMA Investing LLC increased its stake in Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Lockheed Martin by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock valued at $580,317,000 after purchasing an additional 24,512 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and lowered their target price for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. TD Cowen reiterated a "hold" rating and set a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Bank of America lowered their target price on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research note on Thursday, August 21st. Finally, Vertical Research reiterated a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. One investment 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $506.35.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded down $1.18 during trading on Wednesday, hitting $454.28. 1,293,770 shares of the stock were exchanged, compared to its average volume of 1,586,460. The stock's fifty day moving average is $447.52 and its 200 day moving average is $456.40. The stock has a market cap of $106.06 billion, a PE ratio of 25.58, a P/E/G ratio of 1.60 and a beta of 0.27. 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 12 month low of $410.11 and a 12 month high of $618.95.

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

Lockheed Martin Dividend Announcement

The business 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 annualized dividend and a yield of 2.9%. Lockheed Martin's dividend payout ratio is presently 74.32%.

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.