RFG Advisory LLC Sells 1,019 Shares of Lockheed Martin Corporation $LMT

Key Points

• RFG Advisory LLC sold 1,019 shares of Lockheed Martin, reducing its holdings by 20.1% to 4,057 shares, valued at $1,879,000 by the end of the quarter.
• Lockheed Martin's quarterly earnings beat estimates with an EPS of $7.29, surpassing the consensus of $6.57, while revenue increased by only 0.2% year-over-year.
• The company announced a dividend increase to $3.45 per share, effective December 30th, raising its annualized dividend to $13.80, which provides a yield of 2.8%.

RFG Advisory LLC reduced its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 20.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,057 shares of the aerospace company's stock after selling 1,019 shares during the quarter. RFG Advisory LLC's holdings in Lockheed Martin were worth $1,879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LMT. Charles Schwab Investment Management Inc. grew its stake in shares of Lockheed Martin by 7.5% in 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 buying an additional 560,457 shares in the last quarter. Nuveen LLC bought a new position in shares of Lockheed Martin in the first quarter valued at $221,790,000. AQR Capital Management LLC grew its stake in shares of Lockheed Martin by 76.7% in the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock valued at $361,045,000 after buying an additional 350,796 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Lockheed Martin by 17,506.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company's stock valued at $135,985,000 after buying an additional 302,684 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Lockheed Martin by 59.3% in the first quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company's stock valued at $333,859,000 after buying an additional 278,121 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LMT shares. The Goldman Sachs Group raised their target price on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a "sell" rating in a research note on Friday, October 10th. JPMorgan Chase & Co. reduced their price objective 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. Truist Financial lifted their price objective on shares of Lockheed Martin from $440.00 to $500.00 and gave the stock a "hold" rating in a research report on Wednesday. Vertical Research reaffirmed a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Finally, Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of "Hold" and an average target price of $510.29.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $499.17 on Thursday. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The business's 50-day moving average price is $469.31 and its two-hundred day moving average price is $464.06. The stock has a market cap of $116.54 billion, a PE ratio of 28.11, a P/E/G ratio of 1.78 and a beta of 0.28.

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

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.8%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. Lockheed Martin's dividend payout ratio (DPR) is presently 77.70%.

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.

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