ARK Investment Management LLC Has $2.25 Million Holdings in Lockheed Martin Corporation $LMT

ARK Investment Management LLC cut its stake in Lockheed Martin Corporation (NYSE:LMT) by 15.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,865 shares of the aerospace company’s stock after selling 856 shares during the period. ARK Investment Management LLC’s holdings in Lockheed Martin were worth $2,253,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Parcion Private Wealth LLC raised its holdings in shares of Lockheed Martin by 4.1% in the 2nd quarter. Parcion Private Wealth LLC now owns 2,993 shares of the aerospace company’s stock worth $1,386,000 after buying an additional 119 shares in the last quarter. Pacific Heights Asset Management LLC raised its holdings in shares of Lockheed Martin by 3.7% in the 2nd quarter. Pacific Heights Asset Management LLC now owns 56,000 shares of the aerospace company’s stock worth $25,936,000 after buying an additional 2,000 shares in the last quarter. Members Trust Co acquired a new position in shares of Lockheed Martin in the 2nd quarter worth approximately $222,000. Exencial Wealth Advisors LLC raised its holdings in shares of Lockheed Martin by 8.9% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 675 shares of the aerospace company’s stock worth $313,000 after buying an additional 55 shares in the last quarter. Finally, Private Capital Advisors Inc. grew its position in Lockheed Martin by 0.5% during the 2nd quarter. Private Capital Advisors Inc. now owns 19,983 shares of the aerospace company’s stock worth $9,255,000 after acquiring an additional 100 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $486.76 on Thursday. The company has a market capitalization of $113.64 billion, a PE ratio of 27.18, a PEG ratio of 2.14 and a beta of 0.28. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $582.18. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The stock’s fifty day simple moving average is $475.56 and its 200 day simple moving average is $465.67.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping the consensus estimate of $6.33 by $0.62. The business had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.45 billion. Lockheed Martin had a return on equity of 112.13% and a net margin of 5.73%.The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, research analysts predict that Lockheed Martin Corporation will post 27.15 EPS 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 paid a $3.45 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.8%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is 74.32%.

Analyst Ratings Changes

A number of research firms recently commented on LMT. The Goldman Sachs Group increased their price target on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Alembic Global Advisors upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. Cowen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. Robert W. Baird increased their price target on Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Finally, Morgan Stanley increased their price target on Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and an average price target of $513.47.

Lockheed Martin Profile

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.