Logan Capital Management Inc. Trims Stake in Lockheed Martin Corporation $LMT

Logan Capital Management Inc. reduced its stake in Lockheed Martin Corporation (NYSE:LMT) by 8.4% during the second quarter, Holdings Channel.com reports. The firm owned 10,731 shares of the aerospace company’s stock after selling 985 shares during the quarter. Logan Capital Management Inc.’s holdings in Lockheed Martin were worth $4,970,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. GWN Securities Inc. increased its position in Lockheed Martin by 34.9% in the second quarter. GWN Securities Inc. now owns 13,408 shares of the aerospace company’s stock worth $6,327,000 after buying an additional 3,472 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Lockheed Martin by 26.4% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 15,800 shares of the aerospace company’s stock valued at $7,318,000 after buying an additional 3,300 shares in the last quarter. Advisory Alpha LLC grew its stake in shares of Lockheed Martin by 12.1% during the 2nd quarter. Advisory Alpha LLC now owns 2,397 shares of the aerospace company’s stock valued at $1,111,000 after acquiring an additional 258 shares during the period. SYM FINANCIAL Corp increased its holdings in Lockheed Martin by 23.2% in the 2nd quarter. SYM FINANCIAL Corp now owns 585 shares of the aerospace company’s stock worth $271,000 after acquiring an additional 110 shares in the last quarter. Finally, Shilanski & Associates Inc. increased its holdings in Lockheed Martin by 1.5% in the 2nd quarter. Shilanski & Associates Inc. now owns 5,895 shares of the aerospace company’s stock worth $2,730,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Truist Financial raised their price objective on shares of Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. UBS Group cut their price target on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating for the company in a research note on Wednesday, October 22nd. Finally, Bank of America decreased their price target on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $513.47.

Insider Buying and Selling

In related news, COO John Frank A. St sold 7,792 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer directly owned 1 shares of the company’s stock, valued at approximately $491.04. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $486.96 on Tuesday. The firm has a market cap of $112.68 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.69 and a beta of 0.28. The firm has a fifty day moving average price of $478.44 and a 200 day moving average price of $466.74. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $576.43. 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 announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The company had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.45 billion. During the same period in the previous year, the firm posted $6.84 EPS. Lockheed Martin’s revenue for the quarter was up 8.8% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. As a group, sell-side analysts expect 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 given a $3.45 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio (DPR) is presently 77.05%.

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.