Vanguard Amends Lockheed Martin Stake to 11.7% as of Dec 29, 2023

Ticker: LMT · Form: SC 13G/A · Filed: 2024-02-13T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investing

TL;DR

**Vanguard still owns 11.7% of Lockheed Martin, showing strong institutional backing.**

AI Summary

The Vanguard Group, a major investment firm based in Pennsylvania, filed an amendment (SC 13G/A) on February 13, 2024, disclosing its ownership in Lockheed Martin Corp. As of December 29, 2023, Vanguard reported holding 28,903,428 shares of Lockheed Martin's common stock, representing 11.7% of the company's outstanding shares. This filing indicates Vanguard's continued significant passive investment in the defense contractor, which is important for investors as it shows a large institutional holder's confidence in the stock, potentially influencing market perception and stability.

Why It Matters

This filing confirms Vanguard's substantial, albeit passive, ownership in Lockheed Martin, signaling institutional confidence and potentially providing a floor for the stock price due to a large, stable holder.

Risk Assessment

Risk Level: low — This filing indicates a stable, passive institutional ownership, which generally reduces volatility and risk for other investors.

Analyst Insight

A smart investor would note Vanguard's continued significant, passive stake as a sign of long-term institutional confidence in Lockheed Martin, suggesting stability rather than immediate catalysts for price movement.

Key Numbers

28,903,428 — Shares Beneficially Owned (The total number of Lockheed Martin common shares Vanguard holds.)
11.7% — Percentage of Class (The percentage of Lockheed Martin's common stock owned by Vanguard, indicating a significant stake.)
0 — Sole Voting Power (The number of shares over which Vanguard has sole voting power, indicating a passive investment strategy.)

Key Players & Entities

The Vanguard Group (company) — reporting person and major shareholder
Lockheed Martin Corp (company) — subject company whose shares are being reported
Pennsylvania (company) — place of organization for The Vanguard Group
December 29, 2023 (date) — date of event requiring the filing
February 13, 2024 (date) — date the SC 13G/A filing was made

Forward-Looking Statements

Vanguard will maintain its significant, passive stake in Lockheed Martin. (The Vanguard Group) — high confidence, target: December 31, 2024
Lockheed Martin's stock will continue to be viewed as a stable, institutional-grade investment. (Lockheed Martin Corp) — medium confidence, target: December 31, 2024

FAQ

What is the purpose of this SC 13G/A filing?

This SC 13G/A filing is an amendment (Amendment No.: 8) to a Schedule 13G, indicating an update to The Vanguard Group's beneficial ownership of Lockheed Martin Corp's common stock, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.

Who is the reporting person in this filing and what is their IRS Identification Number?

The reporting person is The Vanguard Group, and its I.R.S. IDENTIFICATION NO. is 23-1945930, as stated in Item 1 of the filing.

What was the 'Date of Event Which Requires Filing of this Statement'?

The 'Date of Event Which Requires Filing of this Statement' was December 29, 2023, as specified on the cover page of the filing.

How many shares of Lockheed Martin Corp common stock does The Vanguard Group beneficially own, and what percentage does this represent?

The Vanguard Group beneficially owns 28,903,428 shares of Lockheed Martin Corp common stock, which represents 11.7% of the class, as detailed in Items 9 and 13 of the filing.

Does The Vanguard Group have sole voting power over any of the Lockheed Martin shares it owns?

No, The Vanguard Group reports having 'SOLE VOTING POWER 0' shares, as indicated in Item 5 of the filing, signifying a passive investment approach without direct voting control.

From the Filing

0001104659-24-021371.txt : 20240213 0001104659-24-021371.hdr.sgml : 20240213 20240213170811 ACCESSION NUMBER: 0001104659-24-021371 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LOCKHEED MARTIN CORP CENTRAL INDEX KEY: 0000936468 STANDARD INDUSTRIAL CLASSIFICATION: GUIDED MISSILES & SPACE VEHICLES & PARTS [3760] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 521893632 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-45071 FILM NUMBER: 24628906 BUSINESS ADDRESS: STREET 1: 6801 ROCKLEDGE DR CITY: BETHESDA STATE: MD ZIP: 20817 BUSINESS PHONE: 3018976000 MAIL ADDRESS: STREET 1: 6801 ROCKLEDGE DRIVE CITY: BETHESDA STATE: MD ZIP: 20817 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01364-lockheedmartincorp.htm SCHEDULE 13G/A lockheedmartincorp SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 8)* Name of issuer:  Lockheed Martin Corp Title of Class of Securities:  Common Stock CUSIP Number:  539830109 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on the following page(s))     13G CUSIP No.:  539830109 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 275,335 7.  SOLE DISPOSITIVE POWER 21,149,603 8.  SHARED DISPOSITIVE POWER 949,296 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,098,899 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.91% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: Lockheed Martin Corp Item 1(b) - Address of Issuer's Principal Executive Offices: 6801 Rockledge Drive Bethesda, MD 20817-1877 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: Pennsylvania Item 2(d) - Title of Class of Securities: Common Stock Item 2(e) - CUSIP Number 539830109 Item 3 - Type of