Lockheed Martin Corporation $LMT Stake Reduced by Focused Investors LLC

Focused Investors LLC lowered its holdings in Lockheed Martin Corporation (NYSE:LMT) by 16.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,200 shares of the aerospace company’s stock after selling 23,700 shares during the period. Lockheed Martin comprises about 2.6% of Focused Investors LLC’s portfolio, making the stock its 18th largest holding. Focused Investors LLC’s holdings in Lockheed Martin were worth $63,249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. State Street Corp grew its holdings in shares of Lockheed Martin by 1.3% in the 2nd quarter. State Street Corp now owns 32,975,170 shares of the aerospace company’s stock valued at $16,799,530,000 after acquiring an additional 419,582 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Lockheed Martin in the second quarter valued at about $9,617,574,000. Corient Private Wealth LP raised its holdings in Lockheed Martin by 3,983.3% during the second quarter. Corient Private Wealth LP now owns 7,110,961 shares of the aerospace company’s stock worth $3,622,750,000 after acquiring an additional 6,936,814 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Lockheed Martin during the second quarter worth about $645,258,000. Finally, Legal & General Group Plc bought a new stake in Lockheed Martin during the second quarter worth about $497,469,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LMT shares. Weiss Ratings raised Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. TD Cowen lowered their price target on Lockheed Martin from $600.00 to $570.00 and set a “hold” rating on the stock in a research report on Friday, October 9th. Citigroup upped their price objective on Lockheed Martin from $691.00 to $706.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $620.00 to $665.00 and gave the company a “neutral” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $642.81.

Lockheed Martin News Roundup

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Lockheed plans to invest $420 million to expand its Camden, Arkansas, operations, adding an expected 650 jobs over five years. The investment should increase manufacturing capacity as demand for missiles and other defense products grows. Lockheed Martin Expands in Camden, Arkansas with $420M Investment
• Positive Sentiment: A recent analysis highlights Lockheed’s $58.6 billion multiyear PAC-3 MSE commitment and plans to lift annual production capacity from about 600 to 2,000 interceptors. Its record $292 billion backlog offers revenue visibility, although realizing the benefit depends on scaling output profitably and converting orders into cash flow. The Lockheed Martin Business I’d Watch More Closely Than the F-35
• Neutral Sentiment: Wells Fargo raised its price target to $700 from $600 but kept an equal-weight rating, signaling a higher valuation outlook without a bullish rating change. Wells Fargo price-target update
• Negative Sentiment: Lockheed agreed to pay $29.5 million to settle a federal probe into its diversity efforts. The payment is modest relative to the company’s scale, but the investigation and settlement may weigh on sentiment toward its government-contractor business. Lockheed Martin to Pay $29.5 Million to Settle Federal Probe Over Diversity Efforts

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $639.52 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $147.74 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.36 and a beta of 0.07. Lockheed Martin Corporation has a 12 month low of $437.25 and a 12 month high of $692.00. The stock has a 50 day moving average of $547.27 and a 200-day moving average of $569.64.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, beating analysts’ consensus estimates of $7.52 by $0.45. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The business had revenue of $20.71 billion for the quarter, compared to analysts’ expectations of $20.48 billion. During the same quarter in the prior year, the business earned $6.95 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities research analysts predict that Lockheed Martin Corporation will post 30.66 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 1st will be paid a $3.60 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a yield of 2.3%. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.02%.

Lockheed Martin Company Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.