State Street Corp trimmed its holdings in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,666,918 shares of the aerospace company’s stock after selling 522,916 shares during the period. Lockheed Martin makes up 0.5% of State Street Corp’s holdings, making the stock its 28th largest holding. State Street Corp owned about 0.15% of Lockheed Martin worth $16,283,678,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. United Financial Planning Group LLC acquired a new position in Lockheed Martin during the third quarter valued at approximately $25,000. Triumph Capital Management raised its position in Lockheed Martin by 66.7% during the fourth quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 22 shares in the last quarter. Tucker Asset Management LLC acquired a new position in Lockheed Martin during the fourth quarter valued at approximately $32,000. Beacon Financial Strategies CORP acquired a new position in Lockheed Martin during the fourth quarter valued at approximately $34,000. Finally, Wexford Capital LP acquired a new position in Lockheed Martin during the third quarter valued at approximately $36,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have commented on LMT. Bank of America lowered their price objective on shares of Lockheed Martin from $660.00 to $600.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Argus boosted their price objective on shares of Lockheed Martin from $530.00 to $735.00 and gave the company a “buy” rating in a research report on Friday, March 6th. JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $680.00 to $605.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Citigroup decreased their target price on shares of Lockheed Martin from $675.00 to $571.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $595.00 price objective on shares of Lockheed Martin in a research note on Sunday, April 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $620.68.
Lockheed Martin Stock Down 1.6%
LMT opened at $539.94 on Friday. The company has a 50 day moving average of $548.13 and a 200 day moving average of $562.41. The company has a market cap of $124.49 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 0.99 and a beta of 0.10. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $692.00. The company has a current ratio of 1.14, a quick ratio of 0.94 and a debt-to-equity ratio of 2.74.
Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The aerospace company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.79 by ($0.35). Lockheed Martin had a net margin of 6.38% and a return on equity of 101.64%. The firm had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $18.38 billion. During the same period in the previous year, the business earned $7.28 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Lockheed Martin has set its FY 2026 guidance at 29.350-30.250 EPS. On average, sell-side analysts expect that Lockheed Martin Corporation will post 29.88 EPS for the current year.
Lockheed Martin Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be given a $3.45 dividend. The ex-dividend date is Monday, June 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.6%. Lockheed Martin’s payout ratio is presently 66.83%.
Lockheed Martin Company Profile
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.
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