Cordatus Wealth Management LLC has significantly reduced its investment in Lockheed Martin Corporation (NYSE:LMT). According to the company’s latest 13F filing with the Securities and Exchange Commission (SEC), the firm sold 3,989 shares during the third quarter, resulting in an 88.9% decrease in its stake. Following this transaction, Cordatus now holds just 498 shares of the aerospace giant, valued at approximately $249,000.
This reduction comes amid a broader trend among institutional investors regarding Lockheed Martin’s stock. Other notable changes in holdings include a dramatic increase by Tableaux LLC, which raised its stake by an astonishing 34,231.4% in the second quarter. After acquiring an additional 621,300 shares, Tableaux now owns 623,115 shares valued at about $288.6 million. Similarly, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. upped its holdings by 169.3%, now owning 572,272 shares worth $265 million.
Vanguard Group Inc. also increased its position, acquiring an additional 214,565 shares, bringing its total to approximately 21.7 million shares, valued at around $10.05 billion. Other institutional entrants include Holocene Advisors LP and the Virginia Retirement Systems, which purchased stakes valued at approximately $92.6 million and $89.9 million, respectively. Currently, institutional investors control 74.19% of Lockheed Martin’s stock.
Lockheed Martin’s Stock Performance and Earnings
Lockheed Martin’s stock opened at $511.55 on Tuesday. The aerospace company has experienced a 1-year low of $410.11 and a high of $516.00. The company’s financial health is reflected in its market capitalization of $118.37 billion and a price-to-earnings ratio of 28.56. Recent quarterly earnings, released on October 21, 2023, showed earnings per share (EPS) of $6.95, surpassing analysts’ expectations of $6.33. The firm reported revenues of $18.61 billion, exceeding estimated figures of $18.45 billion.
Lockheed Martin’s year-over-year revenue growth stands at 8.8%, with last year’s EPS reported at $6.84. The company has provided guidance for fiscal year 2025, projecting EPS between $22.15 and $22.35. Analysts forecast an average EPS of $27.15 for the current fiscal year.
Dividend Increase and Analyst Ratings
In a positive move for shareholders, Lockheed Martin recently declared a quarterly dividend of $3.45 per share, an increase from the previous $3.30. This dividend was paid on December 30, 2023, to investors on record as of December 1, 2023. The new dividend equates to an annualized payout of $13.80 and a yield of 2.7%, with a current payout ratio of 77.05%.
Analysts have varied opinions on Lockheed Martin’s stock. While Weiss Ratings maintains a “hold” rating, JPMorgan Chase & Co. has upgraded its price target from $465.00 to $515.00. UBS Group has lowered its target from $514.00 to $513.00, also issuing a “neutral” rating. Others, such as Susquehanna, have raised their target significantly from $490.00 to $590.00, reflecting a more optimistic outlook.
In summary, Lockheed Martin remains a focal point for institutional investors and analysts alike, indicating a robust interest in the aerospace and defense sector as it continues to navigate market dynamics and deliver solid financial results.
