FineMark National Bank & Trust Sells 900 Shares of Lockheed Martin Corporation $LMT

FineMark National Bank & Trust decreased its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,885 shares of the aerospace company’s stock after selling 900 shares during the quarter. FineMark National Bank & Trust’s holdings in Lockheed Martin were worth $10,599,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LMT. Vanguard Group Inc. increased its holdings in Lockheed Martin by 1.0% during the second quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock worth $10,048,993,000 after buying an additional 214,565 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Lockheed Martin by 7.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock valued at $3,587,444,000 after acquiring an additional 560,457 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Lockheed Martin by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock valued at $2,256,147,000 after acquiring an additional 19,459 shares during the period. Royal Bank of Canada increased its stake in shares of Lockheed Martin by 1.4% during the 1st quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock worth $1,021,846,000 after purchasing an additional 31,443 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Lockheed Martin by 0.6% in the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company’s stock valued at $958,116,000 after purchasing an additional 12,899 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LMT. Wall Street Zen upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. The Goldman Sachs Group raised their price objective on Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Morgan Stanley lifted their target price on Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Robert W. Baird increased their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Finally, Bank of America cut their price target on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $513.47.

Insiders Place Their Bets

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer owned 1 shares in the company, valued at $491.04. This represents a 99.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $474.45 on Wednesday. The company has a market capitalization of $109.79 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 1.69 and a beta of 0.25. 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 Corporation has a 12 month low of $410.11 and a 12 month high of $546.00. The stock’s 50 day moving average is $484.81 and its 200-day moving average is $466.93.

Lockheed Martin (NYSE:LMT) last released 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 return on equity of 111.84% and a net margin of 5.73%.The business had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. During the same period in the previous year, the company posted $6.84 EPS. The firm’s quarterly 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. Equities research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be given a dividend of $3.45 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s payout ratio is 77.05%.

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.