Cordatus Wealth Management LLC has significantly reduced its holdings in **Lockheed Martin Corporation** (NYSE: LMT), selling 3,989 shares and now owning only 498 shares, according to a recent filing with the **Securities and Exchange Commission** (SEC). This decision reflects a reduction of **88.9%** in their stake during the third quarter of 2023, bringing the total value of their remaining shares to approximately **$249,000**.
Other institutional investors have also been active in the Lockheed Martin stock market. Notably, **Tableaux LLC** dramatically increased its stake by an astounding **34,231.4%** in the second quarter, acquiring an additional **621,300 shares** to bring its total ownership to **623,115 shares**, valued at **$288.59 million**. Similarly, **MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.** raised its holdings by **169.3%**, now owning **572,272 shares** worth **$265.03 million**.
The influence of institutional investors is considerable, with **74.19%** of Lockheed Martin’s stock currently held by such entities. **Vanguard Group Inc.** also increased its position, now holding **21,697,527 shares**, valued at approximately **$10.05 billion** after acquiring an additional **214,565 shares**.
Lockheed Martin’s Stock Performance
On October 21, 2023, **Lockheed Martin** shares opened at **$511.55**. The stock has shown resilience, with a one-year low of **$410.11** and a high of **$516.00**. As of now, the company maintains a **market capitalization** of **$118.37 billion** and a **price-to-earnings ratio** of **28.56**.
Lockheed Martin’s financial performance in its most recent quarter exceeded analysts’ expectations. The company reported **earnings per share** of **$6.95**, surpassing the consensus estimate of **$6.33** by **$0.62**. Revenue for the quarter reached **$18.61 billion**, slightly above the projected **$18.45 billion**, marking an **8.8%** increase year-over-year. The company has set its fiscal year 2025 guidance at **$22.150 – $22.350 EPS**.
The company also announced a **quarterly dividend** of **$3.45** per share, an increase from the previous dividend of **$3.30**. This change reflects positively on investors, resulting in an annualized dividend of **$13.80** and a yield of **2.7%**.
Analyst Ratings and Market Outlook
Recent assessments by various research analysts indicate a mixed outlook for Lockheed Martin. **Weiss Ratings** reaffirmed a “hold (c)” rating, while **JPMorgan Chase & Co.** updated its rating to “neutral” with a price target raised to **$515.00**. **UBS Group** adjusted its target price slightly downward to **$513.00**, maintaining a neutral stance.
In contrast, **Truist Financial** increased its price target from **$440.00** to **$500.00**, assigning a “hold” rating, while **Susquehanna** raised its target significantly from **$490.00** to **$590.00**, reflecting a more optimistic view. Currently, two analysts rate the stock as a Strong Buy, four as Buy, seventeen as Hold, and one as Sell. The consensus rating stands at “Hold” with a target price of **$506.18**.
Lockheed Martin, headquartered in **Bethesda, Maryland**, is a leading global aerospace and defense company, catering primarily to the **U.S. Department of Defense**, **NASA**, and various allied governments. The company’s extensive portfolio includes military aircraft, missile systems, satellite technologies, and various advanced technological solutions.
In summary, Cordatus Wealth Management’s significant divestment from Lockheed Martin signals a notable shift in investment strategy, amidst a backdrop of robust financial performance and varied analyst predictions regarding the company’s future.
