Mechanics Bank Trust Department Sells 26 Shares of Lockheed Martin Corporation $LMT

Mechanics Bank Trust Department trimmed its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 848 shares of the aerospace company’s stock after selling 26 shares during the period. Mechanics Bank Trust Department’s holdings in Lockheed Martin were worth $393,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lockheed Martin by 7.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock valued at $3,587,444,000 after buying an additional 560,457 shares in the last quarter. Royal Bank of Canada lifted its position in Lockheed Martin by 1.4% during the 1st quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock valued at $1,021,846,000 after acquiring an additional 31,443 shares during the period. Invesco Ltd. boosted its stake in Lockheed Martin by 0.6% during the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company’s stock worth $958,116,000 after acquiring an additional 12,899 shares in the last quarter. GAMMA Investing LLC grew its holdings in Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after purchasing an additional 1,986,600 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Lockheed Martin by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company’s stock valued at $580,317,000 after purchasing an additional 24,512 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LMT shares. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a “market perform” rating in a research note on Monday, July 14th. TD Cowen reissued a “hold” rating and issued a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Bank of America cut their target price on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. Finally, Cowen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $494.00.

Lockheed Martin Stock Up 1.6%

LMT opened at $480.50 on Tuesday. The firm’s 50 day simple moving average is $447.32 and its two-hundred day simple moving average is $459.12. The company has a market capitalization of $112.18 billion, a PE ratio of 27.05, a PEG ratio of 1.66 and a beta of 0.26. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.Lockheed Martin’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.7%. Lockheed Martin’s dividend payout ratio (DPR) is 74.32%.

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.