Huntington National Bank Reduces Stock Position in Lockheed Martin Corporation $LMT

Huntington National Bank lessened its holdings in Lockheed Martin Corporation (NYSE:LMT) by 11.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 90,352 shares of the aerospace company’s stock after selling 11,874 shares during the quarter. Huntington National Bank’s holdings in Lockheed Martin were worth $41,846,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LMT. Freestone Capital Holdings LLC boosted its stake in Lockheed Martin by 2.3% in the second quarter. Freestone Capital Holdings LLC now owns 13,594 shares of the aerospace company’s stock valued at $6,296,000 after acquiring an additional 307 shares in the last quarter. Machina Capital S.A.S. boosted its stake in Lockheed Martin by 97.2% in the second quarter. Machina Capital S.A.S. now owns 10,325 shares of the aerospace company’s stock valued at $4,782,000 after acquiring an additional 5,090 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Lockheed Martin by 1.8% in the second quarter. Westside Investment Management Inc. now owns 1,489 shares of the aerospace company’s stock valued at $691,000 after acquiring an additional 26 shares in the last quarter. Texas Bank & Trust Co boosted its stake in Lockheed Martin by 2.7% in the second quarter. Texas Bank & Trust Co now owns 2,756 shares of the aerospace company’s stock valued at $1,276,000 after acquiring an additional 72 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Lockheed Martin by 0.5% in the second quarter. Bank of Montreal Can now owns 731,141 shares of the aerospace company’s stock valued at $338,620,000 after acquiring an additional 3,766 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT opened at $487.91 on Tuesday. 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 market capitalization of $112.90 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.69 and a beta of 0.28. The firm has a 50-day simple moving average of $482.70 and a 200-day simple moving average of $467.31. 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 data on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. The firm had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $6.84 earnings per share. 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 earnings per share for the current 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. The ex-dividend date is Monday, December 1st. 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 yield of 2.8%. Lockheed Martin’s payout ratio is 77.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Vertical Research restated a “hold” rating and issued a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. UBS Group decreased their price objective on shares of Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating for the company in a research note on Wednesday, October 22nd. Alembic Global Advisors upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a research note on Thursday, August 28th. Finally, Truist Financial increased their target price on shares of Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and an average price target of $513.47.

Insider Buying and Selling

In related news, COO John Frank A. St sold 7,792 shares of the firm’s 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 completion of the sale, the chief operating officer owned 1 shares in the company, valued at $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

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.