US Bancorp DE Reduces Stock Position in Lockheed Martin Corporation $LMT

Key Points

• US Bancorp DE reduced its stake in Lockheed Martin Corporation by 4.8% during the second quarter, now holding approximately 138,305 shares valued at $64.1 million.
• Lockheed Martin announced a quarterly dividend of $3.45 per share, reflecting a positive increase from the last dividend of $3.30.
• The company reported earnings per share of $7.29 for the last quarter, surpassing analysts' expectations of $6.57.

US Bancorp DE cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,305 shares of the aerospace company's stock after selling 6,994 shares during the quarter. US Bancorp DE owned approximately 0.06% of Lockheed Martin worth $64,055,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after acquiring an additional 191 shares during the last quarter. Zhang Financial LLC increased its holdings in shares of Lockheed Martin by 46.6% in the 1st quarter. Zhang Financial LLC now owns 3,019 shares of the aerospace company's stock valued at $1,349,000 after acquiring an additional 960 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in shares of Lockheed Martin by 15.6% in the 1st quarter. Simon Quick Advisors LLC now owns 1,247 shares of the aerospace company's stock valued at $557,000 after acquiring an additional 168 shares during the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Lockheed Martin by 6.9% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 7,043 shares of the aerospace company's stock valued at $3,146,000 after acquiring an additional 454 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its holdings in shares of Lockheed Martin by 13.8% in the 1st quarter. Greenwood Capital Associates LLC now owns 2,749 shares of the aerospace company's stock valued at $1,228,000 after acquiring an additional 333 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 1.3%

Shares of LMT stock opened at $507.51 on Friday. 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 1 year low of $410.11 and a 1 year high of $618.95. The stock has a fifty day moving average of $463.21 and a two-hundred day moving average of $462.39. The firm has a market capitalization of $118.49 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.28.

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, topping 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 company had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the previous year, the firm posted $7.11 EPS. The firm'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, research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be given a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a yield of 2.7%. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's payout ratio is 74.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LMT. Robert W. Baird boosted their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an "outperform" rating in a report on Monday. Deutsche Bank Aktiengesellschaft set a $519.00 price target on Lockheed Martin and gave the company a "hold" rating in a report on Wednesday. Truist Financial lowered Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price objective for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reduced their price objective on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and an average target price of $503.13.

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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