Bridges Investment Management Inc. Cuts Stock Holdings in Lockheed Martin Corporation $LMT

Bridges Investment Management Inc. reduced its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,366 shares of the aerospace company’s stock after selling 1,636 shares during the period. Bridges Investment Management Inc.’s holdings in Lockheed Martin were worth $17,306,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth about $31,000. Frazier Financial Advisors LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $34,000. EQ Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth about $43,000. GFG Capital LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $43,000. Finally, Bernard Wealth Management Corp. boosted its holdings in shares of Lockheed Martin by 251.9% during the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 68 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMT has been the subject of a number of analyst reports. The Goldman Sachs Group increased their target price on shares of Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a report on Friday, October 10th. Vertical Research reissued a “hold” rating and issued a $460.00 price target on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Morgan Stanley increased their price target on shares of Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a research note on Wednesday. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the stock a “market perform” rating in a research note on Monday, July 14th. Finally, Cowen downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $510.29.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $499.17 on Thursday. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The company has a 50 day simple moving average of $469.31 and a two-hundred day simple moving average of $464.06. The company has a market capitalization of $116.54 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 1.78 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating analysts’ consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the firm earned $7.11 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Analysts expect 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. Shareholders of record on Monday, December 1st will be paid a dividend of $3.45 per share. This is a positive change 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 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s payout ratio is 77.70%.

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.