Telos Capital Management Inc. Sells 148 Shares of Lockheed Martin Co. (NYSE:LMT)

22 Oct 2024, 08:46 by Doug Wharley · The Cerbat Gem

Telos Capital Management Inc. reduced its position in Lockheed Martin Co. (NYSE:LMT – Free Report) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,063 shares of the aerospace company’s stock after selling 148 shares during the quarter. Telos Capital Management Inc.’s holdings in Lockheed Martin were worth $7,636,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after purchasing an additional 119,052 shares in the last quarter. Wulff Hansen & CO. boosted its position in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Price Performance

LMT stock opened at $614.69 on Tuesday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The business has a 50-day simple moving average of $579.45 and a two-hundred day simple moving average of $512.24. The company has a market capitalization of $147.49 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the company earned $6.73 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.15%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 48.30%.

Analyst Ratings Changes

Several brokerages have issued reports on LMT. Royal Bank of Canada boosted their price target on Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Susquehanna raised their target price on Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $597.92.

Check Out Our Latest Analysis on Lockheed Martin

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company’s stock.

About Lockheed Martin

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