Retirement Systems of Alabama Reduces Stock Holdings in Lockheed Martin Corporation $LMT

Retirement Systems of Alabama decreased its position in Lockheed Martin Corporation (NYSE:LMT) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,744 shares of the aerospace company’s stock after selling 275 shares during the period. Retirement Systems of Alabama’s holdings in Lockheed Martin were worth $20,723,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Lockheed Martin during the second quarter worth $28,000. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter worth $31,000. Frazier Financial Advisors LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth $34,000. GFG Capital LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth $43,000. Finally, Bernard Wealth Management Corp. lifted its position in shares of Lockheed Martin by 251.9% during the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LMT. Wall Street Zen upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Bank of America dropped their target price on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Thursday, August 21st. Morgan Stanley increased their target price on Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Susquehanna upped their price target on shares of Lockheed Martin from $490.00 to $590.00 and gave the stock a “positive” rating in a report on Thursday, October 9th. Finally, Cowen cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $513.47.

Lockheed Martin Trading Up 0.5%

Lockheed Martin stock opened at $492.04 on Friday. The stock has a market cap of $113.86 billion, a P/E ratio of 27.47, a PEG ratio of 1.69 and a beta of 0.28. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $576.43. The firm’s fifty day moving average price is $481.90 and its 200-day moving average price is $467.23. 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 released 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. 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 firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be paid a $3.45 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s payout ratio is currently 77.05%.

Insider Buying and Selling

In related news, COO John Frank A. St sold 7,792 shares of the 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 transaction, the chief operating officer owned 1 shares of the company’s stock, valued at $491.04. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.