Tocqueville Asset Management L.P. Reduces Stock Holdings in Lockheed Martin Corporation $LMT

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Lockheed Martin by 25.1%, selling 18,963 shares and bringing its total holdings to 56,578 shares, valued at approximately $25.27 million.
• Despite this sale, other institutional investors, such as Charles Schwab Investment Management Inc. and GAMMA Investing LLC, have increased their positions in Lockheed Martin, indicating continued interest in the stock.
• Lockheed Martin recently declared a quarterly dividend of $3.30 per share, reflecting an annualized dividend of $13.20 and a yield of 3.0%, with a payout ratio of 74.32%.

Tocqueville Asset Management L.P. decreased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,578 shares of the aerospace company's stock after selling 18,963 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Lockheed Martin were worth $25,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Redmond Asset Management LLC increased its position in Lockheed Martin by 1.2% in the first quarter. Redmond Asset Management LLC now owns 6,475 shares of the aerospace company's stock worth $2,893,000 after purchasing an additional 75 shares during the period. Ethic Inc. increased its position in Lockheed Martin by 9.9% in the first quarter. Ethic Inc. now owns 5,412 shares of the aerospace company's stock worth $2,428,000 after purchasing an additional 487 shares during the period. EverSource Wealth Advisors LLC increased its position in Lockheed Martin by 10.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,529 shares of the aerospace company's stock worth $1,130,000 after purchasing an additional 229 shares during the period. Brandywine Global Investment Management LLC grew its position in shares of Lockheed Martin by 17.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 386,007 shares of the aerospace company's stock worth $172,433,000 after buying an additional 56,335 shares during the period. Finally, Aberdeen Group plc grew its position in shares of Lockheed Martin by 10.5% in the 1st quarter. Aberdeen Group plc now owns 20,658 shares of the aerospace company's stock valued at $9,232,000 after purchasing an additional 1,967 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on LMT. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. Robert W. Baird dropped their price target on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Susquehanna cut their price target on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $506.65.

Lockheed Martin Stock Up 0.0%

LMT stock traded up $0.1610 during midday trading on Tuesday, hitting $440.8010. The stock had a trading volume of 1,174,551 shares, compared to its average volume of 1,674,201. The firm has a market cap of $102.91 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.54 and a beta of 0.27. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The business has a 50-day moving average of $450.83 and a two-hundred day moving average of $456.59.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly 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 the consensus estimate of $18.59 billion. During the same period in the prior year, the company posted $7.11 earnings per share. The company'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. As a group, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal 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 given 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 3.0%. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

About Lockheed Martin

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.