Prudential Financial Inc. Purchases 82,134 Shares of Lockheed Martin Corporation $LMT

Prudential Financial Inc. raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 30.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,822 shares of the aerospace company’s stock after buying an additional 82,134 shares during the period. Prudential Financial Inc. owned about 0.15% of Lockheed Martin worth $163,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tableaux LLC boosted its holdings in Lockheed Martin by 34,231.4% during the 2nd quarter. Tableaux LLC now owns 623,115 shares of the aerospace company’s stock valued at $288,589,000 after acquiring an additional 621,300 shares during the period. Charles Schwab Investment Management Inc. increased 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 worth $3,587,444,000 after purchasing an additional 560,457 shares during the period. Nuveen LLC bought a new stake in shares of Lockheed Martin during the first quarter worth $221,790,000. AQR Capital Management LLC boosted its stake in shares of Lockheed Martin by 76.7% during the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock valued at $361,045,000 after purchasing an additional 350,796 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Lockheed Martin by 17,506.3% in the first 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 during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Alembic Global Advisors upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. Robert W. Baird upped their target price on shares of Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft set a $519.00 price target on shares of Lockheed Martin and gave the company a “hold” rating in a research note on Wednesday, October 8th. BNP Paribas Exane started coverage on Lockheed Martin in a report on Tuesday, November 18th. They issued an “outperform” rating and a $550.00 price target for the company. Finally, Bank of America reduced their price objective on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $515.50.

Lockheed Martin Trading Down 1.7%

NYSE:LMT opened at $460.15 on Friday. The firm has a 50-day simple moving average of $484.68 and a 200-day simple moving average of $466.88. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $546.00. The firm has a market cap of $106.48 billion, a P/E ratio of 25.69, a P/E/G ratio of 1.69 and a beta of 0.25. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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. 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 period last year, the company posted $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal 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 given a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 1st. 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 Buying and Selling at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of the firm’s 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 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 ownership of the stock. 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 company 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.