Conning Inc. Sells 6,692 Shares of Lockheed Martin Corporation $LMT

Conning Inc. lowered its stake in Lockheed Martin Corporation (NYSE:LMT) by 8.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,913 shares of the aerospace company’s stock after selling 6,692 shares during the period. Conning Inc.’s holdings in Lockheed Martin were worth $32,843,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new position in Lockheed Martin in the first quarter valued at about $31,000. EQ Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the first quarter worth approximately $43,000. GFG Capital LLC acquired a new position in shares of Lockheed Martin in the second quarter worth approximately $43,000. Bernard Wealth Management Corp. lifted its stake in shares of Lockheed Martin by 251.9% in 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 during the period. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new position in Lockheed Martin in the first quarter valued at approximately $45,000. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on LMT shares. Robert W. Baird boosted their price target on Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday. Wall Street Zen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Deutsche Bank Aktiengesellschaft set a $519.00 price target on Lockheed Martin and gave the company a “hold” rating in a research note on Wednesday. Bank of America dropped their price target 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, Truist Financial lowered Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $554.00 to $440.00 in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $503.13.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $505.11 on Friday. The stock’s 50 day moving average is $464.89 and its 200-day moving average is $462.82. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The firm has a market capitalization of $117.92 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.79 and a beta of 0.28. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the prior year, the company posted $7.11 earnings per share. Lockheed Martin’s revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Sell-side analysts forecast 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. Investors of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.7%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio is currently 74.32%.

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.