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Robert M. Lightfoot Jr., President of Space at Lockheed Martin Corp (NYSE:LMT), a $105 billion aerospace and defense giant, recently sold 3,213 shares of the company’s common stock. The transactions occurred on February 26, 2025, with prices ranging from $442.01 to $442.77 per share, resulting in a total value of approximately $1.42 million. The sale comes as the stock trades near its 52-week low of $419.70, though InvestingPro analysis suggests the stock is slightly undervalued. Following this sale, Lightfoot retains direct ownership of 2,000 shares.
In addition to the sale, Lightfoot received an award of 3,057 restricted stock units, which are set to vest on the third anniversary of the grant date. Each unit represents a contingent right to receive one share of Lockheed Martin common stock. This award increases his holdings in the company, complementing his existing shares.
The transactions were filed with the Securities and Exchange Commission, as is standard for changes in executive stock ownership. Get deeper insights into LMT’s valuation, financial health scores, and 8 additional exclusive ProTips with an InvestingPro subscription, including access to comprehensive Pro Research Reports.
In other recent news, Lockheed Martin Corporation reported its fourth-quarter 2024 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $7.67, compared to the forecast of $6.58. However, the company’s revenue fell short of projections, coming in at $18.6 billion against the anticipated $18.84 billion, raising concerns among investors despite the earnings beat. The company also recorded $1.8 billion in net charges, which impacted its financial results. Lockheed Martin highlighted strong free cash flow generation of $5.3 billion and returned $6.8 billion to shareholders through repurchases and dividends.
Additionally, Lockheed Martin anticipates a 4-5% sales growth in 2025, with expectations for segment operating margins to return to 11%, driven by continued investments in digital transformation and innovation. The company’s F-35 program remains a focal point, with increased deliveries planned for 2025. In other developments, a report from The Washington Post revealed that the Trump administration has directed the Pentagon to prepare for an 8% annual reduction in the defense budget over the next five years, which has raised concerns about future revenue streams for defense contractors like Lockheed Martin.
The news of potential budget cuts led to a decline in shares of major defense contractors, including Lockheed Martin, as investors weighed the potential impact on these companies’ financial outlooks. Despite these challenges, Lockheed Martin’s CEO, Jim Taiclet, emphasized the company’s strategic focus on growth and innovation, highlighting efforts to streamline regulatory processes and enhance technological capabilities. Investors and analysts will continue to monitor these developments closely as the full implications of the planned budget cuts and the company’s financial strategies unfold.
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