Lockheed Martin Corporation $LMT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 0.7% during the 3rd quarter, Holdings Channel reports. The fund owned 548,567 shares of the aerospace company’s stock after selling 3,792 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Lockheed Martin were worth $273,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Carnegie Investment Counsel boosted its stake in shares of Lockheed Martin by 11.4% in the third quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock valued at $14,796,000 after buying an additional 3,031 shares in the last quarter. VCI Wealth Management LLC purchased a new position in Lockheed Martin in the third quarter worth $3,075,000. DAVENPORT & Co LLC lifted its holdings in Lockheed Martin by 22.4% in the third quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock valued at $12,688,000 after acquiring an additional 4,652 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Lockheed Martin by 29.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock worth $5,010,000 after purchasing an additional 2,270 shares in the last quarter. Finally, Laffer Tengler Investments Inc. grew its stake in shares of Lockheed Martin by 482.6% during the 2nd quarter. Laffer Tengler Investments Inc. now owns 6,979 shares of the aerospace company’s stock worth $3,232,000 after purchasing an additional 5,781 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on LMT shares. Morgan Stanley reiterated an “equal weight” rating and issued a $543.00 price objective (down previously from $630.00) on shares of Lockheed Martin in a research note on Tuesday, December 16th. Robert W. Baird increased their target price on shares of Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Citigroup initiated coverage on Lockheed Martin in a research note on Thursday, December 11th. They set a “neutral” rating and a $505.00 price target on the stock. Truist Financial set a $605.00 price target on Lockheed Martin and gave the stock a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group lifted their price objective on Lockheed Martin from $398.00 to $425.00 and gave the stock a “sell” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $517.12.

Insider Activity at Lockheed Martin

In related news, COO John Frank A. St sold 7,792 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the sale, the chief operating officer owned 1 shares of the company’s stock, valued at $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Lockheed Martin Trading Up 1.5%

Shares of LMT opened at $551.25 on Tuesday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $554.27. The stock has a market cap of $127.56 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 1.55 and a beta of 0.24. The firm has a 50 day simple moving average of $475.10 and a 200-day simple moving average of $468.79.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. The firm had revenue of $18.61 billion for the quarter, compared to analyst estimates of $18.45 billion. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.Lockheed Martin’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Company 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.