Thurston Springer Miller Herd & Titak Inc. Sells 7,135 Shares of Lockheed Martin Corporation $LMT

Thurston Springer Miller Herd & Titak Inc. reduced its stake in Lockheed Martin Corporation (NYSE:LMT) by 93.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 462 shares of the aerospace company’s stock after selling 7,135 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Lockheed Martin were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Lockheed Martin in the 2nd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC bought a new position in Lockheed Martin during the second quarter worth $29,000. Frazier Financial Advisors LLC acquired a new position in Lockheed Martin in the second quarter valued at $34,000. MTM Investment Management LLC acquired a new position in Lockheed Martin in the second quarter valued at $36,000. Finally, Kilter Group LLC bought a new stake in Lockheed Martin during the second quarter valued at $40,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 1.5%

NYSE LMT opened at $477.08 on Wednesday. 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 business has a 50 day moving average price of $474.74 and a 200-day moving average price of $465.62. The company has a market cap of $110.40 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.46 and a beta of 0.24.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The business had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. During the same quarter last year, the firm posted $6.84 EPS. Lockheed Martin’s revenue was up 8.8% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. As a group, equities analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share 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. Investors of record on Monday, December 1st will be issued a $3.45 dividend. The ex-dividend date is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is currently 77.05%.

Analyst Ratings Changes

Several research firms have recently weighed in on LMT. Sanford C. Bernstein lifted their price objective on Lockheed Martin from $497.00 to $545.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Alembic Global Advisors raised Lockheed Martin from a “neutral” rating to an “overweight” rating in a research note on Thursday, August 28th. BNP Paribas Exane started coverage on Lockheed Martin in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $550.00 price target on the stock. BNP Paribas raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lockheed Martin from $517.00 to $492.00 and set a “hold” rating for the company in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lockheed Martin presently has an average rating of “Hold” and a consensus price target of $503.89.

Insider Buying and Selling at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer owned 1 shares of the company’s stock, valued at approximately $491.04. This trade represents a 99.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate 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.