First American Bank Trims Stake in Lockheed Martin Corporation $LMT

First American Bank cut its position in Lockheed Martin Corporation (NYSE:LMT) by 23.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,806 shares of the aerospace company’s stock after selling 2,061 shares during the quarter. First American Bank’s holdings in Lockheed Martin were worth $3,398,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Lockheed Martin by 1.0% in the second quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after acquiring an additional 214,565 shares during the period. Geode Capital Management LLC increased its holdings in shares of Lockheed Martin by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock valued at $2,256,147,000 after acquiring an additional 19,459 shares during the period. Legal & General Group Plc increased its holdings in shares of Lockheed Martin by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 959,510 shares of the aerospace company’s stock valued at $444,387,000 after acquiring an additional 6,073 shares during the period. AQR Capital Management LLC raised its position in Lockheed Martin by 6.9% in the 2nd quarter. AQR Capital Management LLC now owns 863,839 shares of the aerospace company’s stock valued at $400,079,000 after purchasing an additional 55,607 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Lockheed Martin by 16.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 761,382 shares of the aerospace company’s stock worth $347,381,000 after purchasing an additional 108,553 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

NYSE:LMT opened at $488.51 on Tuesday. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $516.00. The firm has a market cap of $113.04 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.46 and a beta of 0.24. The company’s 50-day moving average is $470.73 and its two-hundred day moving average is $465.92. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32.

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 analysts’ consensus estimates of $6.33 by $0.62. The business had revenue of $18.61 billion during the quarter, compared to analyst estimates of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend yield of 2.8%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. Lockheed Martin’s payout ratio is 77.05%.

Analyst Ratings Changes

LMT has been the subject of a number of research reports. Sanford C. Bernstein upped their target price on shares of Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a report on Monday, October 20th. UBS Group dropped their price target on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $515.00 price objective (up from $465.00) on shares of Lockheed Martin in a research report on Friday, December 19th. Citigroup assumed coverage on Lockheed Martin in a research note on Thursday, December 11th. They issued a “neutral” rating and a $505.00 target price on the stock. Finally, Morgan Stanley restated an “equal weight” rating and set a $543.00 price target (down previously from $630.00) on shares of Lockheed Martin in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $506.67.

Insider Activity at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value 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 represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.