Yacktman Asset Management LP Reduces Stock Position in Lockheed Martin Corporation $LMT

Yacktman Asset Management LP lowered its stake in Lockheed Martin Corporation (NYSE:LMT) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 222,615 shares of the aerospace company’s stock after selling 18,957 shares during the quarter. Lockheed Martin accounts for 1.4% of Yacktman Asset Management LP’s portfolio, making the stock its 29th largest position. Yacktman Asset Management LP owned about 0.10% of Lockheed Martin worth $103,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC boosted its holdings in Lockheed Martin by 9.3% in the second quarter. Golden State Wealth Management LLC now owns 2,838 shares of the aerospace company’s stock worth $1,315,000 after purchasing an additional 242 shares during the last quarter. Horan Securities Inc. boosted its holdings in Lockheed Martin by 3.6% in the second quarter. Horan Securities Inc. now owns 2,558 shares of the aerospace company’s stock worth $1,185,000 after purchasing an additional 88 shares during the last quarter. Stone House Investment Management LLC raised its position in Lockheed Martin by 288.9% in the second quarter. Stone House Investment Management LLC now owns 175 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 130 shares during the period. Anchor Capital Advisors LLC raised its position in Lockheed Martin by 21.2% in the second quarter. Anchor Capital Advisors LLC now owns 31,304 shares of the aerospace company’s stock worth $14,498,000 after acquiring an additional 5,478 shares during the period. Finally, Resona Asset Management Co. Ltd. raised its position in Lockheed Martin by 3.4% in the second quarter. Resona Asset Management Co. Ltd. now owns 76,445 shares of the aerospace company’s stock worth $35,357,000 after acquiring an additional 2,540 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LMT. Bank of America decreased their price target on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. UBS Group decreased their price target on shares of Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 22nd. Cowen downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. Vertical Research reiterated a “hold” rating and issued a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Finally, Alembic Global Advisors upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $513.47.

Insider Activity at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the firm’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the sale, the chief operating officer directly owned 1 shares in the company, valued at $491.04. This trade represents a 99.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

Lockheed Martin Stock Down 2.4%

Shares of LMT stock opened at $473.56 on Thursday. The company has a market capitalization of $109.58 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.69 and a beta of 0.25. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $576.43. The company’s fifty day moving average price is $483.68 and its 200-day moving average price is $467.50. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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 firm had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.9%. 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 77.05%.

Lockheed Martin Company 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.