Franklin Resources Inc. Reduces Holdings in Lockheed Martin Corporation $LMT

Franklin Resources Inc. cut its position in Lockheed Martin Corporation (NYSE:LMT) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,747,834 shares of the aerospace company’s stock after selling 32,609 shares during the quarter. Franklin Resources Inc.’s holdings in Lockheed Martin were worth $809,492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. purchased a new position in Lockheed Martin in the 2nd quarter valued at about $28,000. Frazier Financial Advisors LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter valued at approximately $34,000. MTM Investment Management LLC acquired a new stake in shares of Lockheed Martin during the second quarter worth approximately $36,000. GFG Capital LLC acquired a new stake in Lockheed Martin in the second quarter valued at $43,000. Finally, Bernard Wealth Management Corp. boosted its stake in Lockheed Martin by 251.9% during the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 1 shares of the company’s stock, valued at $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 is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LMT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $519.00 target price on shares of Lockheed Martin and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Wall Street Zen raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Sanford C. Bernstein lifted their price objective on shares of Lockheed Martin from $497.00 to $545.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Morgan Stanley increased their target price on shares of Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average price target of $513.47.

Lockheed Martin Trading Down 0.4%

Shares of NYSE:LMT opened at $468.19 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The company’s 50-day moving average price is $484.90 and its 200 day moving average price is $466.96. The company has a market cap of $108.34 billion, a PE ratio of 26.14, a P/E/G ratio of 1.69 and a beta of 0.25. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $546.00.

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 company had revenue of $18.61 billion for the quarter, compared to analyst estimates of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. Lockheed Martin’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is currently 77.05%.

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.