Lockheed Martin Corporation $LMT Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,934 shares of the aerospace company’s stock after selling 476 shares during the period. King Luther Capital Management Corp’s holdings in Lockheed Martin were worth $2,748,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new position in Lockheed Martin during the 2nd quarter valued at about $28,000. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth about $31,000. Frazier Financial Advisors LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $34,000. GFG Capital LLC acquired a new position in shares of Lockheed Martin during the second quarter valued at about $43,000. Finally, Bernard Wealth Management Corp. raised its position in shares of Lockheed Martin by 251.9% in the 2nd 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 last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the firm’s 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 sale, the chief operating officer 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on LMT shares. The Goldman Sachs Group boosted their target price on shares of Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Deutsche Bank Aktiengesellschaft set a $519.00 price objective on shares of Lockheed Martin and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Vertical Research reissued a “hold” rating and issued a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Morgan Stanley lifted their price target on Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Wall Street Zen raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. One research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $513.47.

Lockheed Martin Trading Down 1.4%

NYSE LMT opened at $452.14 on Tuesday. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $576.43. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. The company has a market capitalization of $104.62 billion, a PE ratio of 25.25, a P/E/G ratio of 1.69 and a beta of 0.25. The company has a fifty day moving average of $483.91 and a 200 day moving average of $467.47.

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

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be given a $3.45 dividend. The ex-dividend date is Monday, December 1st. This represents a $13.80 annualized dividend and a yield of 3.1%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s payout ratio is currently 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.