Lockheed Martin Corporation $LMT Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC trimmed its stake in Lockheed Martin Corporation (NYSE:LMT) by 4.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,021 shares of the aerospace company’s stock after selling 126 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Lockheed Martin were worth $1,399,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock worth $3,587,444,000 after purchasing an additional 560,457 shares in the last quarter. Nuveen LLC purchased a new position in Lockheed Martin in the 1st quarter worth about $221,790,000. AQR Capital Management LLC increased its stake in Lockheed Martin by 76.7% in the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock worth $361,045,000 after purchasing an additional 350,796 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Lockheed Martin by 17,506.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock worth $135,985,000 after purchasing an additional 302,684 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Lockheed Martin by 59.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock worth $333,859,000 after purchasing an additional 278,121 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LMT. Cowen cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. Truist Financial lifted their price target on Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Sanford C. Bernstein lifted their price target on Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a report on Monday, October 20th. Robert W. Baird lifted their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, Susquehanna lifted their price target on Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $513.47.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $485.00 on Wednesday. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $576.43. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. The company has a market capitalization of $112.23 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 1.69 and a beta of 0.28. The stock’s fifty day simple moving average is $483.29 and its 200-day simple moving average is $467.46.

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

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be issued a dividend of $3.45 per share. The ex-dividend date 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 is presently 77.05%.

Insider Activity

In other news, COO John Frank A. St sold 7,792 shares of Lockheed Martin 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 sale, the chief operating officer directly owned 1 shares in the company, valued at $491.04. The trade was a 99.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

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.