The Manufacturers Life Insurance Company Sells 16,893 Shares of Lockheed Martin Corporation $LMT

The Manufacturers Life Insurance Company lowered its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 730,480 shares of the aerospace company’s stock after selling 16,893 shares during the quarter. The Manufacturers Life Insurance Company owned 0.31% of Lockheed Martin worth $338,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC increased its holdings in Lockheed Martin by 21.2% during the 1st quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company’s stock worth $18,038,000 after purchasing an additional 7,052 shares during the period. Laffer Tengler Investments Inc. lifted its holdings in shares of Lockheed Martin by 482.6% in the 2nd quarter. Laffer Tengler Investments Inc. now owns 6,979 shares of the aerospace company’s stock worth $3,232,000 after buying an additional 5,781 shares during the period. Modera Wealth Management LLC grew its position in shares of Lockheed Martin by 3.1% during the 2nd quarter. Modera Wealth Management LLC now owns 32,333 shares of the aerospace company’s stock worth $14,975,000 after buying an additional 971 shares in the last quarter. Founders Capital Management increased its stake in shares of Lockheed Martin by 46.9% during the second quarter. Founders Capital Management now owns 14,568 shares of the aerospace company’s stock valued at $6,747,000 after buying an additional 4,648 shares during the period. Finally, Brandywine Global Investment Management LLC increased its stake in shares of Lockheed Martin by 17.1% during the first quarter. Brandywine Global Investment Management LLC now owns 386,007 shares of the aerospace company’s stock valued at $172,433,000 after buying an additional 56,335 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insiders Place Their Bets

In related news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer directly owned 1 shares of the company’s stock, valued at $491.04. This represents a 99.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Lockheed Martin Stock Up 0.3%

Shares of Lockheed Martin stock opened at $468.47 on Thursday. The firm’s 50 day moving average price is $477.02 and its 200-day moving average price is $465.55. 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 52-week low of $410.11 and a 52-week high of $516.00. The company has a market cap of $108.40 billion, a P/E ratio of 26.16, a PEG ratio of 1.35 and a beta of 0.24.

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

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s payout ratio is 77.05%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BNP Paribas Exane began coverage on shares of Lockheed Martin in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $550.00 price objective for the company. BNP Paribas upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, November 18th. Wall Street Zen raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Bank of America dropped their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. Finally, Royal Bank Of Canada boosted their price objective on shares of Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $515.50.

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.