Prossimo Advisors LLC Sells 425 Shares of Lockheed Martin Corporation $LMT

Prossimo Advisors LLC lessened its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 23.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,424 shares of the aerospace company’s stock after selling 425 shares during the period. Prossimo Advisors LLC’s holdings in Lockheed Martin were worth $660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its position in Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the period. Jefferies Financial Group Inc. lifted its position in shares of Lockheed Martin by 38.5% in the 1st quarter. Jefferies Financial Group Inc. now owns 7,567 shares of the aerospace company’s stock worth $3,380,000 after purchasing an additional 2,103 shares during the period. Baker Avenue Asset Management LP boosted its stake in shares of Lockheed Martin by 8.8% during the 1st quarter. Baker Avenue Asset Management LP now owns 1,577 shares of the aerospace company’s stock valued at $704,000 after purchasing an additional 127 shares in the last quarter. TIAA Trust National Association boosted its stake in shares of Lockheed Martin by 4.0% during the 1st quarter. TIAA Trust National Association now owns 11,189 shares of the aerospace company’s stock valued at $4,998,000 after purchasing an additional 432 shares in the last quarter. Finally, IFG Advisory LLC increased its position in shares of Lockheed Martin by 10.6% during the first quarter. IFG Advisory LLC now owns 2,198 shares of the aerospace company’s stock valued at $982,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling

In other 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Up 0.7%

NYSE:LMT opened at $457.44 on Monday. The firm has a market cap of $105.85 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.69 and a beta of 0.25. 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 Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $529.48. The firm has a 50-day simple moving average of $482.77 and a two-hundred day simple moving average of $466.44.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $0.62. The firm had revenue of $18.61 billion for 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 business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.84 earnings per share. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm 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 dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 3.0%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s payout ratio is 77.05%.

Analyst Ratings Changes

Several brokerages have commented on LMT. BNP Paribas Exane initiated coverage on shares of Lockheed Martin in a report on Tuesday, November 18th. They issued an “outperform” rating and a $550.00 price objective for the company. Morgan Stanley increased their target price on Lockheed Martin from $530.00 to $630.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Susquehanna lifted their price target on Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a research report on Thursday, October 9th. Robert W. Baird upped their price target on Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and a consensus price target of $515.50.

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.