Allspring Global Investments Holdings LLC Sells 5,905 Shares of Lockheed Martin Corporation $LMT

Allspring Global Investments Holdings LLC lessened its holdings in Lockheed Martin Corporation (NYSE:LMT) by 12.5% during the third quarter, HoldingsChannel reports. The fund owned 41,225 shares of the aerospace company’s stock after selling 5,905 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lockheed Martin were worth $20,571,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tableaux LLC raised its stake in shares of Lockheed Martin by 34,231.4% in the second quarter. Tableaux LLC now owns 623,115 shares of the aerospace company’s stock worth $288,589,000 after purchasing an additional 621,300 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Lockheed Martin by 169.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,272 shares of the aerospace company’s stock worth $265,030,000 after buying an additional 359,748 shares in the last quarter. Vanguard Group Inc. raised its position in Lockheed Martin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after buying an additional 214,565 shares during the last quarter. Holocene Advisors LP bought a new position in Lockheed Martin during the 2nd quarter valued at $92,628,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Lockheed Martin during the 2nd quarter valued at $89,850,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of several analyst reports. Citigroup started coverage on shares of Lockheed Martin in a report on Thursday, December 11th. They issued a “neutral” rating and a $505.00 target price for the company. The Goldman Sachs Group increased their price objective on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research note on Friday, October 10th. BNP Paribas upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, November 18th. Sanford C. Bernstein upped their target price on Lockheed Martin from $497.00 to $545.00 and gave the company a “market perform” rating in a report on Monday, October 20th. Finally, Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $506.67.

Insiders Place Their Bets

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the 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 completion of the transaction, the chief operating officer owned 1 shares in the company, valued at $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by corporate insiders.

Lockheed Martin Trading Up 2.7%

NYSE:LMT opened at $496.77 on Monday. The firm’s 50 day moving average is $470.79 and its 200 day moving average is $466.29. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $516.00. The stock has a market capitalization of $114.95 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.41 and a beta of 0.24. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32.

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

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 1st were paid a $3.45 dividend. The ex-dividend date was Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is presently 77.05%.

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.