Flavin Financial Services Reduces Lockheed Martin Stake by 6.6%

Flavin Financial Services Inc. has reduced its holdings in Lockheed Martin Corporation (NYSE: LMT) by 6.6% during the second quarter of 2023. According to its recent 13F filing with the Securities and Exchange Commission (SEC), the firm now owns 4,312 shares of the aerospace and defense company after selling 307 shares in the quarter. Lockheed Martin constitutes 1.9% of Flavin’s portfolio, ranking as its 20th largest investment.

The value of Flavin Financial’s holdings in Lockheed Martin stood at approximately $1,997,000 at the end of the quarter. Other institutional investors have also adjusted their positions. Brighton Jones LLC increased its stake by 5.0% in the fourth quarter, acquiring an additional 191 shares, bringing its total to 3,995 shares valued at $1,941,000. ORG Wealth Partners LLC significantly boosted its holdings by 122.4% in the first quarter, purchasing an additional 93 shares for a total of 169 shares, worth $76,000.

Jamison Private Wealth Management Inc. also expanded its investment in Lockheed Martin, increasing its stake by 1.6% during the same period, now owning 17,917 shares valued at $8,004,000. Overall, institutional investors now hold approximately 74.19% of Lockheed Martin’s outstanding shares.

Lockheed Martin’s Market Performance and Dividend Announcement

As of the latest trading session, Lockheed Martin’s stock opened at $495.24. The company has a market capitalization of $115.62 billion and a price-to-earnings (P/E) ratio of 27.89. Its fifty-day moving average is $471.93, while the two-hundred-day moving average is $464.78. Over the past year, Lockheed Martin’s stock has seen a low of $410.11 and a high of $618.95.

In a positive development for shareholders, Lockheed Martin has declared a quarterly dividend of $3.45, set to be paid on December 30, 2023. Shareholders of record as of December 1, 2023 will receive this dividend, which marks an increase from the previous quarterly dividend of $3.30. The company’s annualized dividend now stands at $13.80, reflecting a yield of 2.8%, with a payout ratio of 77.70%.

Analyst Ratings and Future Outlook

Research firms have been active in assessing Lockheed Martin’s stock. According to a report from Weiss Ratings, the company maintains a “hold” rating as of October 8, 2023. Alembic Global Advisors upgraded Lockheed Martin from “neutral” to “overweight” on August 28, 2023, while Wall Street Zen downgraded it from “buy” to “hold” on July 26, 2023. Sanford C. Bernstein has set a target price of $551.00, indicating a “market perform” rating.

Overall, one analyst has rated Lockheed Martin as a “Strong Buy,” six have given it a “Buy” rating, while fifteen have designated it as a “Hold.” One analyst has issued a “Sell” rating. As per data from MarketBeat.com, the stock currently holds an average rating of “Hold” with a consensus price target of $510.29.

Lockheed Martin Corporation, a leading security and aerospace company, is engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products. It operates through several segments, including Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.