Retirement Systems of Alabama Sells 275 Shares of Lockheed Martin Corporation $LMT

Retirement Systems of Alabama reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,744 shares of the aerospace company’s stock after selling 275 shares during the quarter. Retirement Systems of Alabama’s holdings in Lockheed Martin were worth $20,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Brighton Jones LLC grew its stake in shares of Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after buying an additional 191 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in Lockheed Martin by 106.4% in the first quarter. Vontobel Holding Ltd. now owns 7,642 shares of the aerospace company’s stock worth $3,414,000 after buying an additional 3,940 shares during the period. Clear Creek Financial Management LLC lifted its holdings in Lockheed Martin by 27.0% in the first quarter. Clear Creek Financial Management LLC now owns 569 shares of the aerospace company’s stock worth $254,000 after buying an additional 121 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Lockheed Martin by 12.1% in the first quarter. Strategic Financial Concepts LLC now owns 537 shares of the aerospace company’s stock worth $240,000 after buying an additional 58 shares during the period. Finally, Revisor Wealth Management LLC purchased a new position in shares of Lockheed Martin during the first quarter valued at approximately $227,000. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on LMT. Weiss Ratings reiterated a “hold (c)” rating on shares of Lockheed Martin in a report on Wednesday, October 8th. Susquehanna lifted their target price on shares of Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a report on Thursday, October 9th. Sanford C. Bernstein boosted their price objective 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. Deutsche Bank Aktiengesellschaft set a $519.00 price objective on shares of Lockheed Martin and gave the stock a “hold” rating in a report on Wednesday, October 8th. Finally, Robert W. Baird boosted their target price on shares of Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average price target of $513.47.

Insider Buying and Selling

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the business’s stock in a transaction on 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 owned 1 shares in the company, valued at $491.04. The trade was a 99.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

Lockheed Martin Trading Up 0.5%

Shares of Lockheed Martin stock opened at $492.04 on Friday. The company has a market capitalization of $113.86 billion, a P/E ratio of 27.47, a P/E/G ratio of 1.69 and a beta of 0.28. 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 company has a fifty day moving average of $481.90 and a 200 day moving average of $467.23. 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 issued its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, topping the consensus estimate of $6.33 by $0.62. The company 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%. Lockheed Martin’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a $3.45 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $13.80 annualized dividend and a yield of 2.8%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s payout ratio is currently 77.05%.

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.