Nemes Rush Group LLC Lowers Stock Position in Lockheed Martin Corporation $LMT

Nemes Rush Group LLC lessened its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 43.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 280 shares of the aerospace company’s stock after selling 214 shares during the period. Nemes Rush Group LLC’s holdings in Lockheed Martin were worth $130,000 as of its most recent filing with the SEC.

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

Lockheed Martin Stock Down 1.7%

Shares of NYSE LMT opened at $460.15 on Monday. The stock has a market cap of $106.48 billion, a PE ratio of 25.69, a P/E/G 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 company has a 50-day moving average of $484.68 and a 200 day moving average of $466.85.

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

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 1st. 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%.

Insider Activity

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the firm’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value of $3,826,183.68. Following the completion of the sale, the chief operating officer directly owned 1 shares of the company’s stock, valued at $491.04. This trade represents a 99.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LMT has been the subject of several research analyst reports. UBS Group reduced their target price on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating for the company in a research note on Wednesday, October 22nd. BNP Paribas Exane began coverage on shares of Lockheed Martin in a report on Tuesday, November 18th. They set an “outperform” rating and a $550.00 price objective on the stock. Bank of America cut their target price on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Thursday, August 21st. Morgan Stanley upped their price target on shares of Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Sanford C. Bernstein lifted their price objective on Lockheed Martin from $497.00 to $545.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average price target of $515.50.

Lockheed Martin Company 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.