Villere ST Denis J & Co. LLC Sells 1,407 Shares of Lockheed Martin Corporation $LMT

Key Points

• Villere ST Denis J & Co. LLC sold 1,407 shares of Lockheed Martin, reducing its holdings by 2.3%, while retaining approximately 59,075 shares that are now valued at $27.36 million.
• Lockheed Martin's quarterly earnings exceeded expectations with a reported $7.29 EPS, and the company announced a dividend increase to $3.45 per share, representing a 2.7% yield.
• Several analysts have recently adjusted their ratings on Lockheed Martin, with TD Cowen and Bank of America lowering their price targets, while Robert W. Baird raised theirs to $550.

Villere ST Denis J & Co. LLC lowered its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,075 shares of the aerospace company's stock after selling 1,407 shares during the quarter. Lockheed Martin accounts for approximately 2.6% of Villere ST Denis J & Co. LLC's investment portfolio, making the stock its 16th biggest holding. Villere ST Denis J & Co. LLC's holdings in Lockheed Martin were worth $27,360,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. 49 Wealth Management LLC lifted its position in shares of Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after buying an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. lifted its stake in Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after purchasing an additional 22 shares during the last quarter. Tyler Stone Wealth Management lifted its stake in Lockheed Martin by 3.3% in the first quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock valued at $306,000 after purchasing an additional 22 shares during the last quarter. Investment Advisory Services Inc. TX ADV lifted its stake in Lockheed Martin by 4.7% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company's stock valued at $225,000 after purchasing an additional 22 shares during the last quarter. Finally, Broadway Wealth Solutions Inc. lifted its stake in Lockheed Martin by 4.5% in the second quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company's stock valued at $237,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LMT shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Lockheed Martin in a research note on Wednesday. TD Cowen reiterated a "hold" rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Robert W. Baird boosted their price objective on Lockheed Martin from $500.00 to $550.00 and gave the company an "outperform" rating in a research note on Monday. Bank of America decreased their price objective on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada decreased their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $503.13.

Lockheed Martin Trading Down 0.5%

Lockheed Martin stock opened at $505.11 on Friday. The stock has a market cap of $117.92 billion, a P/E ratio of 28.44, a PEG ratio of 1.79 and a beta of 0.28. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The firm's fifty day moving average price is $464.89 and its 200-day moving average price is $462.82. 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 (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating 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 firm's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.11 earnings per share. 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 fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be paid a $3.45 dividend. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's payout ratio 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.

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.