Rafferty Asset Management LLC Has $12.21 Million Stock Position in Lockheed Martin Corporation $LMT

Key Points

• Rafferty Asset Management LLC has reduced its holdings in Lockheed Martin Corporation by 14.9%, selling 4,767 shares during the first quarter, resulting in a remaining stake valued at $12.2 million.
• Lockheed Martin recently reported an EPS of $7.29 for the quarter, exceeding analyst estimates, and experienced a 0.2% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $3.30, which will be paid out on September 26th, reflecting a 2.9% dividend yield.

Rafferty Asset Management LLC cut its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 14.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,327 shares of the aerospace company's stock after selling 4,767 shares during the quarter. Rafferty Asset Management LLC's holdings in Lockheed Martin were worth $12,207,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. FORA Capital LLC raised its position in Lockheed Martin by 6.2% in the first quarter. FORA Capital LLC now owns 17,377 shares of the aerospace company's stock valued at $7,762,000 after purchasing an additional 1,020 shares during the last quarter. PKS Advisory Services LLC raised its position in Lockheed Martin by 14.8% in the first quarter. PKS Advisory Services LLC now owns 916 shares of the aerospace company's stock valued at $409,000 after purchasing an additional 118 shares during the last quarter. Harvest Portfolios Group Inc. raised its position in Lockheed Martin by 17.4% in the first quarter. Harvest Portfolios Group Inc. now owns 3,935 shares of the aerospace company's stock valued at $1,758,000 after purchasing an additional 584 shares during the last quarter. Widmann Financial Services Inc. raised its position in Lockheed Martin by 46.9% in the first quarter. Widmann Financial Services Inc. now owns 1,598 shares of the aerospace company's stock valued at $714,000 after purchasing an additional 510 shares during the last quarter. Finally, Orion Capital Management LLC raised its position in Lockheed Martin by 295.7% in the first quarter. Orion Capital Management LLC now owns 728 shares of the aerospace company's stock valued at $325,000 after purchasing an additional 544 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Bank of America dropped their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Alembic Global Advisors raised Lockheed Martin from a "neutral" rating to an "overweight" rating in a research note on Thursday. Robert W. Baird decreased their price target on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Finally, Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price target for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of "Hold" and a consensus price target of $506.35.

Lockheed Martin Trading Down 0.1%

Shares of LMT stock traded down $0.60 on Friday, hitting $455.58. The company had a trading volume of 1,371,987 shares, compared to its average volume of 1,529,966. The firm has a market cap of $106.36 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.60 and a beta of 0.27. The stock's 50-day moving average is $446.99 and its two-hundred day moving average is $456.60. 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 twelve month low of $410.11 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the prior year, the firm posted $7.11 earnings per share. 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. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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 paid a dividend of $3.30 per share. 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 (DPR) is currently 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.