Villere ST Denis J & Co. LLC Sells 1,407 Shares of Lockheed Martin Corporation $LMT

Villere ST Denis J & Co. LLC trimmed its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 59,075 shares of the aerospace company’s stock after selling 1,407 shares during the period. Lockheed Martin comprises about 2.6% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 16th largest holding. Villere ST Denis J & Co. LLC’s holdings in Lockheed Martin were worth $27,360,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Aberdeen Group plc boosted its position in Lockheed Martin by 6.6% during the second quarter. Aberdeen Group plc now owns 22,028 shares of the aerospace company’s stock valued at $10,202,000 after buying an additional 1,370 shares during the period. Zullo Investment Group Inc. boosted its position in Lockheed Martin by 2.4% during the second quarter. Zullo Investment Group Inc. now owns 1,719 shares of the aerospace company’s stock valued at $796,000 after buying an additional 40 shares during the period. JFS Wealth Advisors LLC boosted its position in Lockheed Martin by 81.0% during the second quarter. JFS Wealth Advisors LLC now owns 599 shares of the aerospace company’s stock valued at $277,000 after buying an additional 268 shares during the period. PDS Planning Inc boosted its position in Lockheed Martin by 8.6% during the second quarter. PDS Planning Inc now owns 1,888 shares of the aerospace company’s stock valued at $874,000 after buying an additional 150 shares during the period. Finally, JB Capital LLC boosted its position in Lockheed Martin by 22.5% during the second quarter. JB Capital LLC now owns 832 shares of the aerospace company’s stock valued at $386,000 after buying an additional 153 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on LMT shares. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the company a “market perform” rating in a research report on Monday, July 14th. Susquehanna upped their price target on shares of Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a research report on Thursday. Robert W. Baird increased their target price on shares of Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday. Truist Financial lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. Finally, Vertical Research reiterated a “hold” rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $503.13.

Lockheed Martin Price Performance

LMT stock opened at $505.11 on Friday. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The company has a market cap of $117.92 billion, a P/E ratio of 28.44, a PEG ratio of 1.79 and a beta of 0.28. The firm has a 50-day moving average of $464.89 and a 200 day moving average of $462.82. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the prior year, the firm earned $7.11 earnings per share. Lockheed Martin’s revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be paid a $3.45 dividend. The ex-dividend date of this dividend 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 2.7%. Lockheed Martin’s payout ratio is currently 74.32%.

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.