Amalgamated Bank Has $19.63 Million Stock Holdings in Lockheed Martin Corporation $LMT

Amalgamated Bank cut its stake in Lockheed Martin Corporation (NYSE:LMT) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,374 shares of the aerospace company’s stock after selling 2,825 shares during the period. Amalgamated Bank’s holdings in Lockheed Martin were worth $19,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new position in shares of Lockheed Martin in the 2nd quarter valued at $28,000. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin in the 1st quarter valued at $31,000. Frazier Financial Advisors LLC bought a new stake in Lockheed Martin during the 2nd quarter worth $34,000. GFG Capital LLC bought a new stake in Lockheed Martin during the 2nd quarter worth $43,000. Finally, Bernard Wealth Management Corp. grew its position in Lockheed Martin by 251.9% during the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 68 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of research reports. Cowen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. UBS Group reduced their price target on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 22nd. Morgan Stanley boosted their price objective on Lockheed Martin from $530.00 to $630.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Alembic Global Advisors raised Lockheed Martin from a “neutral” rating to an “overweight” rating in a research note on Thursday, August 28th. Finally, Sanford C. Bernstein boosted their price objective on Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average target price of $513.47.

Insider Activity

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $485.21 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $576.43. The stock’s 50 day moving average is $480.12 and its 200-day moving average is $466.96. The firm has a market capitalization of $112.28 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.69 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping the consensus estimate of $6.33 by $0.62. The firm had revenue of $18.61 billion during 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%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be issued a $3.45 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s dividend payout ratio is currently 73.70%.

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.