Engineers Gate Manager LP Sells 37,699 Shares of Lockheed Martin Corporation $LMT

Engineers Gate Manager LP cut its position in Lockheed Martin Corporation (NYSE:LMT) by 50.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,858 shares of the aerospace company’s stock after selling 37,699 shares during the quarter. Engineers Gate Manager LP’s holdings in Lockheed Martin were worth $17,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after acquiring an additional 191 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Lockheed Martin by 39.1% during the first quarter. Russell Investments Group Ltd. now owns 81,338 shares of the aerospace company’s stock worth $36,332,000 after purchasing an additional 22,876 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of Lockheed Martin by 7.9% in the first quarter. Gulf International Bank UK Ltd now owns 490 shares of the aerospace company’s stock worth $218,000 after purchasing an additional 36 shares during the last quarter. Sit Investment Associates Inc. raised its stake in Lockheed Martin by 1.3% in the first quarter. Sit Investment Associates Inc. now owns 7,682 shares of the aerospace company’s stock valued at $3,432,000 after purchasing an additional 99 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its position in Lockheed Martin by 88.2% during the first quarter. Vestmark Advisory Solutions Inc. now owns 4,280 shares of the aerospace company’s stock valued at $1,912,000 after purchasing an additional 2,006 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 1.1%

Shares of LMT stock opened at $480.03 on Friday. The business has a 50-day moving average of $476.03 and a 200 day moving average of $465.68. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $516.00. The stock has a market capitalization of $111.08 billion, a PE ratio of 26.80, a P/E/G ratio of 1.37 and a beta of 0.24.

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

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be given a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.9%. 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. Lockheed Martin’s dividend payout ratio is currently 77.05%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LMT. Bank of America decreased their price target on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Thursday, August 21st. Truist Financial upped their target price on shares of Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group raised their price target on Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Susquehanna upped their price objective on Lockheed Martin from $490.00 to $590.00 and gave the stock a “positive” rating in a report on Thursday, October 9th. Finally, Deutsche Bank Aktiengesellschaft set a $519.00 price objective on Lockheed Martin and gave the company a “hold” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $510.22.

Insider Transactions at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were 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 legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

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.