Amalgamated Bank Lowers Position in Lockheed Martin Corporation $LMT

Amalgamated Bank lessened its holdings in Lockheed Martin Corporation (NYSE:LMT) by 6.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,374 shares of the aerospace company’s stock after selling 2,825 shares during the period. Amalgamated Bank’s holdings in Lockheed Martin were worth $19,625,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LMT. Savvy Advisors Inc. grew its stake in shares of Lockheed Martin by 196.7% during the second quarter. Savvy Advisors Inc. now owns 4,670 shares of the aerospace company’s stock valued at $2,163,000 after buying an additional 3,096 shares during the last quarter. Assetmark Inc. grew its stake in shares of Lockheed Martin by 29.0% during the second quarter. Assetmark Inc. now owns 2,189 shares of the aerospace company’s stock valued at $1,014,000 after buying an additional 492 shares during the last quarter. Keybank National Association OH grew its stake in shares of Lockheed Martin by 3.9% during the second quarter. Keybank National Association OH now owns 28,526 shares of the aerospace company’s stock valued at $13,212,000 after buying an additional 1,070 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Lockheed Martin by 1.1% during the second quarter. HBK Sorce Advisory LLC now owns 17,755 shares of the aerospace company’s stock valued at $8,223,000 after buying an additional 192 shares during the last quarter. Finally, Premier Path Wealth Partners LLC grew its stake in shares of Lockheed Martin by 0.6% during the second quarter. Premier Path Wealth Partners LLC now owns 5,394 shares of the aerospace company’s stock valued at $2,498,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity

In other news, COO John Frank A. St sold 7,792 shares of Lockheed Martin stock in a transaction that occurred on Thursday, October 23rd. The shares were 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 in the company, valued at approximately $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cowen cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. UBS Group cut their target price on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 22nd. Vertical Research reissued a “hold” rating and issued a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Truist Financial raised their target price on Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada raised their target price on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $513.47.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $485.21 on Thursday. The stock’s 50 day simple moving average is $480.12 and its two-hundred day simple moving average is $466.96. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. The stock has a market cap of $112.28 billion, a price-to-earnings ratio of 27.09, 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.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be given a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.8%. 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 payout ratio is presently 73.70%.

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.