Lockheed Martin Corporation $LMT Shares Sold by CNB Bank

CNB Bank cut its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 6.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,482 shares of the aerospace company’s stock after selling 106 shares during the period. CNB Bank’s holdings in Lockheed Martin were worth $686,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LMT. Charles Schwab Investment Management Inc. lifted its stake in Lockheed Martin by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock worth $3,587,444,000 after purchasing an additional 560,457 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth approximately $221,790,000. AQR Capital Management LLC raised its stake in shares of Lockheed Martin by 76.7% during the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock worth $361,045,000 after purchasing an additional 350,796 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Lockheed Martin by 17,506.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock worth $135,985,000 after purchasing an additional 302,684 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Lockheed Martin by 59.3% during the first quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock worth $333,859,000 after purchasing an additional 278,121 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.5%

LMT opened at $485.59 on Friday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.83. The stock has a market capitalization of $112.37 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.61 and a beta of 0.28. The business has a 50-day moving average of $477.51 and a two-hundred day moving average of $466.37. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $576.43.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, beating the consensus estimate of $6.33 by $0.62. The company had revenue of $18.61 billion during the quarter, compared to analysts’ expectations of $18.45 billion. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be paid a dividend of $3.45 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, December 1st. Lockheed Martin’s payout ratio is currently 77.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial upped their price target on Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Wall Street Zen raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Vertical Research reissued a “hold” rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Finally, UBS Group lowered their target price on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and a consensus target price of $513.47.

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.