Manning & Napier Advisors LLC Lowers Position in Lockheed Martin Corporation $LMT

Manning & Napier Advisors LLC lowered its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 45.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,622 shares of the aerospace company’s stock after selling 19,747 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Lockheed Martin were worth $11,792,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Lockheed Martin by 285.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 40 shares in the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Lockheed Martin in the 2nd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Lockheed Martin in the second quarter worth $29,000. Frazier Financial Advisors LLC bought a new position in Lockheed Martin in the 2nd quarter valued at $34,000. Finally, MTM Investment Management LLC purchased a new stake in shares of Lockheed Martin during the 2nd quarter valued at $36,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on LMT. Robert W. Baird boosted their price target on shares of Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $543.00 price objective (down previously from $630.00) on shares of Lockheed Martin in a research note on Tuesday, December 16th. Sanford C. Bernstein restated a “market perform” rating and issued a $586.00 target price on shares of Lockheed Martin in a research note on Monday. UBS Group reaffirmed a “neutral” rating on shares of Lockheed Martin in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and a consensus target price of $522.24.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $557.83 on Wednesday. The company has a 50 day moving average of $476.55 and a 200 day moving average of $469.49. The stock has a market cap of $129.08 billion, a P/E ratio of 31.15, a P/E/G ratio of 1.57 and a beta of 0.24. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $563.30. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32.

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

Insider Activity

In other news, COO John Frank A. St sold 7,792 shares of the business’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 completion of the transaction, the chief operating officer owned 1 shares of the company’s stock, valued at approximately $491.04. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

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.