Lockheed Martin Corporation $LMT Stock Position Decreased by Sierra Legacy Group

Sierra Legacy Group lessened its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.5% in the second quarter, Holdings Channel reports. The institutional investor owned 6,547 shares of the aerospace company’s stock after selling 165 shares during the period. Lockheed Martin accounts for approximately 2.4% of Sierra Legacy Group’s portfolio, making the stock its 9th biggest position. Sierra Legacy Group’s holdings in Lockheed Martin were worth $3,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wealthspire Advisors LLC increased its holdings in shares of Lockheed Martin by 3.3% during the second quarter. Wealthspire Advisors LLC now owns 7,808 shares of the aerospace company’s stock valued at $3,616,000 after acquiring an additional 246 shares in the last quarter. Bedell Frazier Investment Counselling LLC boosted its stake in Lockheed Martin by 2.6% in the 2nd quarter. Bedell Frazier Investment Counselling LLC now owns 23,095 shares of the aerospace company’s stock worth $10,696,000 after purchasing an additional 583 shares in the last quarter. Portside Wealth Group LLC boosted its stake in Lockheed Martin by 9.7% in the 2nd quarter. Portside Wealth Group LLC now owns 2,031 shares of the aerospace company’s stock worth $941,000 after purchasing an additional 179 shares in the last quarter. Inspire Advisors LLC grew its position in Lockheed Martin by 3.7% during the 2nd quarter. Inspire Advisors LLC now owns 1,040 shares of the aerospace company’s stock valued at $482,000 after purchasing an additional 37 shares during the last quarter. Finally, United Advisor Group LLC increased its stake in Lockheed Martin by 8.8% during the 2nd quarter. United Advisor Group LLC now owns 1,323 shares of the aerospace company’s stock valued at $613,000 after purchasing an additional 107 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 1 shares of the company’s stock, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $474.45 on Wednesday. The firm has a market capitalization of $109.79 billion, a P/E ratio of 26.49, a PEG ratio of 1.69 and a beta of 0.25. 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 Corporation has a one year low of $410.11 and a one year high of $546.00. The business has a fifty day moving average of $484.81 and a 200 day moving average of $466.93.

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

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors 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 yield of 2.9%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is presently 77.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LMT. Truist Financial upped their target price on shares of Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group upped their price objective on Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Robert W. Baird increased their target price on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Vertical Research restated a “hold” rating and issued a $460.00 price target on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Finally, Sanford C. Bernstein increased their price objective on Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $513.47.

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.