Birchbrook Inc. Lowers Stock Holdings in Lockheed Martin Corporation $LMT

Birchbrook Inc. cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 15.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,538 shares of the aerospace company’s stock after selling 271 shares during the quarter. Birchbrook Inc.’s holdings in Lockheed Martin were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Lockheed Martin by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock valued at $3,587,444,000 after acquiring an additional 560,457 shares during the last quarter. Nuveen LLC purchased a new stake in Lockheed Martin in the first quarter valued at approximately $221,790,000. AQR Capital Management LLC increased its position in 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 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 period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Lockheed Martin by 59.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock valued at $333,859,000 after purchasing an additional 278,121 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.8%

Shares of LMT opened at $474.45 on Wednesday. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $546.00. The stock’s 50-day moving average is $484.81 and its two-hundred day moving average is $466.93. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. The stock has a market cap of $109.79 billion, a PE ratio of 26.49, a P/E/G ratio of 1.69 and a beta of 0.25.

Lockheed Martin (NYSE:LMT) last announced its 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 business 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%.The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.9%. Lockheed Martin’s dividend payout ratio is presently 77.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial upped their price objective on Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Robert W. Baird upped their price target on Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Vertical Research reiterated a “hold” rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lockheed Martin has an average rating of “Hold” and an average target price of $513.47.

Insider Buying and Selling at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total value of $3,826,183.68. Following the completion of the transaction, the chief operating officer directly owned 1 shares in the company, 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 can be accessed through this link. Company insiders own 0.14% of the company’s stock.

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.