Sumitomo Mitsui Trust Group Inc. Sells 1,494 Shares of Lockheed Martin Corporation $LMT

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its holdings in Lockheed Martin by 0.3%, now owning 552,359 shares valued at approximately $255.8 million.
• Lockheed Martin's quarterly earnings exceeded analyst estimates, reporting $6.95 EPS and an 8.8% increase in year-over-year revenue to $18.61 billion.
• The company plans to increase its dividend to $3.45 per share, reflecting a yield of 2.8%, up from the previous $3.30 dividend.

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 552,359 shares of the aerospace company's stock after selling 1,494 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Lockheed Martin worth $255,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. 49 Wealth Management LLC grew its position in shares of Lockheed Martin by 3.4% in the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after purchasing an additional 22 shares during the period. OMNI 360 Wealth Inc. increased its position in shares of Lockheed Martin by 2.5% during the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after purchasing an additional 22 shares during the last quarter. Tyler Stone Wealth Management boosted its stake in shares of Lockheed Martin by 3.3% during the 1st quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock worth $306,000 after acquiring an additional 22 shares during the period. Investment Advisory Services Inc. TX ADV boosted its stake in shares of Lockheed Martin by 4.7% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company's stock worth $225,000 after acquiring an additional 22 shares during the period. Finally, Broadway Wealth Solutions Inc. lifted its position in shares of Lockheed Martin by 4.5% during the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company's stock valued at $237,000 after acquiring an additional 22 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 0.5%

NYSE LMT opened at $485.59 on Friday. The business has a 50 day simple moving average of $477.51 and a 200 day simple moving average of $466.37. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $576.43. The stock has a market capitalization of $112.37 billion, a P/E ratio of 27.11, a P/E/G ratio of 1.61 and a beta of 0.28. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $0.62. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The business had revenue of $18.61 billion for the quarter, compared to analyst estimates of $18.45 billion. During the same quarter in the prior year, the company earned $6.84 earnings per share. The company's quarterly revenue was up 8.8% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be paid a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's payout ratio is 77.05%.

Analyst Ratings Changes

LMT has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Lockheed Martin from $500.00 to $550.00 and gave the company an "outperform" rating in a research report on Monday, October 6th. Wall Street Zen raised Lockheed Martin from a "hold" rating to a "buy" rating in a report on Saturday. Truist Financial boosted their price target on Lockheed Martin from $440.00 to $500.00 and gave the stock a "hold" rating in a report on Wednesday, October 15th. Vertical Research reissued a "hold" rating and set a $460.00 price target on shares of Lockheed Martin in a report on Tuesday, July 22nd. Finally, UBS Group lowered their target price on Lockheed Martin from $514.00 to $513.00 and set a "neutral" rating for the company in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of "Hold" and a consensus target price of $513.47.

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.

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