Conning Inc. Reduces Holdings in Lockheed Martin Corporation $LMT

Conning Inc. lessened its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 8.6% during the second quarter, Holdings Channel reports. The institutional investor owned 70,913 shares of the aerospace company’s stock after selling 6,692 shares during the quarter. Conning Inc.’s holdings in Lockheed Martin were worth $32,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. 49 Wealth Management LLC lifted its position in shares of Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company’s stock valued at $295,000 after buying an additional 22 shares during the last quarter. OMNI 360 Wealth Inc. lifted its position in shares of Lockheed Martin by 2.5% during the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company’s stock valued at $408,000 after buying an additional 22 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in Lockheed Martin by 3.3% during the 1st quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company’s stock worth $306,000 after purchasing an additional 22 shares in the last quarter. Investment Advisory Services Inc. TX ADV lifted its holdings in Lockheed Martin by 4.7% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company’s stock worth $225,000 after purchasing an additional 22 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. lifted its holdings in Lockheed Martin by 4.5% during the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company’s stock worth $237,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $505.11 on Friday. 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 firm has a market capitalization of $117.92 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.28. The business’s 50-day moving average price is $464.89 and its 200-day moving average price is $462.82. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company 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 dividend of $3.45 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. Lockheed Martin’s dividend payout ratio is currently 74.32%.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of recent research reports. Robert W. Baird increased their price objective on Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft set a $519.00 price objective on Lockheed Martin and gave the stock a “hold” rating in a report on Wednesday. Vertical Research reissued a “hold” rating and set a $460.00 price objective on shares of Lockheed Martin in a report on Tuesday, July 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday. Finally, Bank of America lowered their price target on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $503.13.

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.