Ascent Group LLC Increases Stock Position in Lockheed Martin Corporation $LMT

Key Points

• Ascent Group LLC increased its stock holdings in Lockheed Martin by 12.0%, owning 9,510 shares valued at $4,405,000 after purchasing an additional 1,021 shares in the second quarter.
• Lockheed Martin reported $7.29 earnings per share for the most recent quarter, exceeding analysts' expectations of $6.57, despite a slight miss on revenue.
• Institutional investors hold 74.19% of Lockheed Martin's stock, with several hedge funds significantly increasing their positions during the same quarter.

Ascent Group LLC raised its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 12.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,510 shares of the aerospace company's stock after purchasing an additional 1,021 shares during the period. Ascent Group LLC's holdings in Lockheed Martin were worth $4,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Creative Capital Management Investments LLC lifted its holdings in shares of Lockheed Martin by 2,575.0% in the second quarter. Creative Capital Management Investments LLC now owns 107 shares of the aerospace company's stock valued at $50,000 after purchasing an additional 103 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Lockheed Martin by 3.0% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,051 shares of the aerospace company's stock valued at $5,581,000 after purchasing an additional 355 shares in the last quarter. HighMark Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 132.5% in the second quarter. HighMark Wealth Management LLC now owns 186 shares of the aerospace company's stock valued at $86,000 after purchasing an additional 106 shares in the last quarter. DHJJ Financial Advisors Ltd. lifted its holdings in shares of Lockheed Martin by 23,900.0% in the second quarter. DHJJ Financial Advisors Ltd. now owns 240 shares of the aerospace company's stock valued at $111,000 after purchasing an additional 239 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. lifted its holdings in shares of Lockheed Martin by 2.7% in the second quarter. Hudson Edge Investment Partners Inc. now owns 14,535 shares of the aerospace company's stock valued at $6,732,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $504.69 on Friday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The firm has a 50-day moving average of $455.88 and a two-hundred day moving average of $460.77. The stock has a market cap of $117.83 billion, a P/E ratio of 28.42, a PEG ratio of 1.76 and a beta of 0.28. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. The company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LMT shares. Susquehanna cut their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. UBS Group cut their price objective on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. TD Cowen reissued a "hold" rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Truist Financial lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their price objective for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada dropped their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and an average price target of $494.00.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

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