Verdence Capital Advisors LLC Decreases Position in Lockheed Martin Corporation $LMT

Key Points

• Verdence Capital Advisors LLC has reduced its stake in Lockheed Martin by 44.4%, selling 2,381 shares, which brings their total ownership to 2,980 shares valued at approximately $1.38 million.
• Lockheed Martin has announced an increase in its quarterly dividend to $3.45 per share, reflecting an annualized dividend yield of 2.7% and a payout ratio of 74.32%.
• The company's most recent earnings report revealed $7.29 earnings per share, exceeding analyst expectations, while quarterly revenue was slightly below forecasts at $18.16 billion.

Verdence Capital Advisors LLC decreased its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 44.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,980 shares of the aerospace company's stock after selling 2,381 shares during the period. Verdence Capital Advisors LLC's holdings in Lockheed Martin were worth $1,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in 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 purchasing an additional 560,457 shares during the last quarter. Royal Bank of Canada boosted its holdings in Lockheed Martin by 1.4% in the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock valued at $1,021,846,000 after purchasing an additional 31,443 shares during the last quarter. Invesco Ltd. boosted its holdings in Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lockheed Martin by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock valued at $580,317,000 after purchasing an additional 24,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Lockheed Martin by 4.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company's stock valued at $518,937,000 after purchasing an additional 51,522 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Down 0.3%

Shares of Lockheed Martin stock opened at $503.67 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The business's 50 day simple moving average is $466.48 and its 200-day simple moving average is $463.53. The stock has a market capitalization of $117.59 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.77 and a beta of 0.28. 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 announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. The business had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business's quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend yield of 2.7%. The ex-dividend date is Monday, December 1st. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's payout ratio is currently 74.32%.

Analyst Ratings Changes

LMT has been the subject of a number of analyst reports. Robert W. Baird increased their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an "outperform" rating in a report on Monday, October 6th. Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Bank of America reduced their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their target price on Lockheed Martin from $440.00 to $525.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $503.53.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.