Valley National Advisers Inc. Has $4.11 Million Stock Position in Lockheed Martin Corporation $LMT

by · The Markets Daily

Valley National Advisers Inc. reduced its holdings in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 29.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,225 shares of the aerospace company’s stock after selling 3,473 shares during the period. Lockheed Martin comprises about 0.6% of Valley National Advisers Inc.’s holdings, making the stock its 28th largest holding. Valley National Advisers Inc.’s holdings in Lockheed Martin were worth $4,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LMT. Enzi Wealth acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $201,000. Cahaba Wealth Management Inc. boosted its holdings in shares of Lockheed Martin by 6.1% during the third quarter. Cahaba Wealth Management Inc. now owns 539 shares of the aerospace company’s stock worth $269,000 after purchasing an additional 31 shares during the period. Perigon Wealth Management LLC grew its position in Lockheed Martin by 13.7% during the third quarter. Perigon Wealth Management LLC now owns 17,850 shares of the aerospace company’s stock valued at $8,911,000 after purchasing an additional 2,155 shares in the last quarter. Paradiem LLC acquired a new position in Lockheed Martin in the 3rd quarter valued at approximately $16,125,000. Finally, Sowell Financial Services LLC lifted its position in Lockheed Martin by 8.5% in the 3rd quarter. Sowell Financial Services LLC now owns 5,179 shares of the aerospace company’s stock worth $2,586,000 after buying an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Lockheed Martin from $440.00 to $500.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. The Goldman Sachs Group lifted their price objective on Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Lockheed Martin from $517.00 to $492.00 and set a “hold” rating on the stock in a research report on Wednesday, December 10th. Finally, BNP Paribas raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, November 18th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus target price of $506.67.

Check Out Our Latest Stock Report on Lockheed Martin

Lockheed Martin Price Performance

NYSE LMT opened at $483.14 on Friday. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $516.00. The stock’s 50-day moving average is $471.07 and its two-hundred day moving average is $465.72. The firm has a market cap of $111.80 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.46 and a beta of 0.24. 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 (NYSE:LMT – Get Free Report) last released its quarterly 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 company had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 2.9%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. Lockheed Martin’s dividend payout ratio is 77.05%.

Insider Activity at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total value of $3,826,183.68. Following the completion of the sale, the chief operating officer directly owned 1 shares in the company, valued at approximately $491.04. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

About Lockheed Martin

(Free Report)

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.

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