Wellington Management Group LLP Sells 512,108 Shares of Lockheed Martin Corporation $LMT

Key Points

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Wellington Management Group LLP reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,101,493 shares of the aerospace company's stock after selling 512,108 shares during the quarter. Wellington Management Group LLP owned 0.90% of Lockheed Martin worth $938,758,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LMT. TruNorth Capital Management LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth $31,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the 4th quarter worth $35,000. Banque Transatlantique SA bought a new stake in shares of Lockheed Martin during the 4th quarter worth $43,000. EQ Wealth Advisors LLC bought a new stake in shares of Lockheed Martin during the 1st quarter worth $43,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new stake in shares of Lockheed Martin during the 1st quarter worth $45,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the subject of several recent analyst reports. Susquehanna dropped their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. TD Cowen restated a "hold" rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Bank of America dropped their target price on Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Royal Bank Of Canada cut their price target on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of "Hold" and an average price target of $506.35.

Lockheed Martin Trading Down 0.3%

Shares of LMT traded down $1.4680 during mid-day trading on Friday, reaching $445.7320. 1,889,568 shares of the company were exchanged, compared to its average volume of 1,705,822. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The stock has a market capitalization of $104.06 billion, a PE ratio of 25.10, a PEG ratio of 1.57 and a beta of 0.27. The business has a 50 day simple moving average of $448.65 and a two-hundred day simple moving average of $456.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $18.59 billion. During the same period last year, the company earned $7.11 earnings per share. The firm's revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is presently 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.