Wellington Management Group LLP Sells 66,265 Shares of Lockheed Martin Corporation $LMT

Key Points

• Wellington Management reduced its Lockheed Martin position by 8.2%, selling 66,265 shares and retaining 746,194 shares valued at approximately $380.2 million. Institutional investors collectively own 74.19% of the company.
• Analysts maintain a generally cautious outlook, with Lockheed Martin receiving an average “Hold” rating and a consensus price target of $632.39, despite some analysts raising their targets and Wall Street Zen upgrading the stock to “Strong Buy.”
• Lockheed Martin exceeded quarterly expectations with $7.94 in EPS and $20.06 billion in revenue, while revenue rose 10.5% year over year. The company also declared a quarterly dividend of $3.45 per share, equivalent to a 2.4% annual yield.

Wellington Management Group LLP lessened its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 746,194 shares of the aerospace company's stock after selling 66,265 shares during the quarter. Wellington Management Group LLP owned approximately 0.32% of Lockheed Martin worth $380,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. World Investment Advisors grew its position in Lockheed Martin by 54.7% in the fourth quarter. World Investment Advisors now owns 14,739 shares of the aerospace company's stock valued at $7,129,000 after acquiring an additional 5,214 shares during the period. SG Americas Securities LLC raised its stake in Lockheed Martin by 5.4% during the first quarter. SG Americas Securities LLC now owns 276,383 shares of the aerospace company's stock worth $167,043,000 after acquiring an additional 14,150 shares in the last quarter. Norris Financial Group LLC bought a new position in shares of Lockheed Martin during the first quarter valued at $2,321,000. Legal Advantage Investments Inc. bought a new position in shares of Lockheed Martin during the first quarter valued at $1,451,000. Finally, Versor Investments LP boosted its stake in shares of Lockheed Martin by 220.4% in the 4th quarter. Versor Investments LP now owns 5,997 shares of the aerospace company's stock valued at $2,901,000 after purchasing an additional 4,125 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Lockheed Martin from a "buy" rating to a "strong-buy" rating in a report on Saturday. Wells Fargo & Company set a $600.00 price target on shares of Lockheed Martin in a research report on Monday, July 27th. Morgan Stanley upped their price objective on shares of Lockheed Martin from $653.00 to $690.00 and gave the stock an "equal weight" rating in a research note on Friday, July 24th. Royal Bank Of Canada raised their price objective on shares of Lockheed Martin from $575.00 to $600.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Lockheed Martin in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $632.39.

Lockheed Martin Stock Performance

LMT stock opened at $563.82 on Monday. The company has a 50 day moving average price of $551.70 and a 200 day moving average price of $573.30. Lockheed Martin Corporation has a fifty-two week low of $437.25 and a fifty-two week high of $692.00. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. The stock has a market capitalization of $130.12 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The aerospace company reported $7.94 EPS for the quarter, beating analysts' consensus estimates of $7.22 by $0.72. The firm had revenue of $20.06 billion for the quarter, compared to analyst estimates of $19.34 billion. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%.The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $1.46 EPS. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. Analysts forecast that Lockheed Martin Corporation will post 30.39 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, September 1st. Lockheed Martin's dividend payout ratio (DPR) is presently 50.87%.

Lockheed Martin Profile

Lockheed Martin Corporation NYSE: LMT is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin's product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source