Bank of New York Mellon Corp Sells 73,752 Shares of Lockheed Martin Corporation $LMT

Bank of New York Mellon Corp decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,636,780 shares of the aerospace company’s stock after selling 73,752 shares during the period. Bank of New York Mellon Corp’s holdings in Lockheed Martin were worth $758,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of LMT. Mid American Wealth Advisory Group Inc. bought a new position in Lockheed Martin in the 2nd quarter worth $28,000. TruNorth Capital Management LLC bought a new position in Lockheed Martin in the 1st quarter worth $31,000. Frazier Financial Advisors LLC bought a new position in Lockheed Martin in the 2nd quarter worth $34,000. GFG Capital LLC bought a new position in Lockheed Martin in the 2nd quarter worth $43,000. Finally, Bernard Wealth Management Corp. boosted its holdings in Lockheed Martin by 251.9% in the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after buying an additional 68 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.8%

Shares of NYSE LMT opened at $487.91 on Tuesday. The firm’s 50-day moving average price is $482.70 and its 200-day moving average price is $467.31. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. The stock has a market capitalization of $112.90 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.69 and a beta of 0.28. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $576.43.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The firm had revenue of $18.61 billion for the quarter, compared to analysts’ expectations of $18.45 billion. During the same period in the prior year, the company earned $6.84 EPS. The business’s revenue 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. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS 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. 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. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. Lockheed Martin’s dividend payout ratio is currently 77.05%.

Insiders Place Their Bets

In related news, COO John Frank A. St sold 7,792 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total value of $3,826,183.68. Following the sale, the chief operating officer directly owned 1 shares of the company’s stock, valued at $491.04. This represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LMT has been the subject of several recent analyst reports. UBS Group dropped their target price on shares of Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating for the company in a report on Wednesday, October 22nd. Alembic Global Advisors raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. Royal Bank Of Canada upped their target price on shares of Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. Sanford C. Bernstein upped their target price on shares of Lockheed Martin from $497.00 to $545.00 and gave the stock a “market perform” rating in a report on Monday, October 20th. Finally, Bank of America dropped their target price on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $513.47.

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.