Bank Pictet & Cie Europe AG Reduces Stake in Lockheed Martin Corporation $LMT

Key Points

• Bank Pictet & Cie Europe AG reduced its stake in Lockheed Martin by 41.5% in the second quarter, now owning 1,020 shares worth $472,000 after selling 725 shares.
• An array of institutional investors, including Old North State Wealth Management and Essex Financial Services, have increased their holdings in Lockheed Martin, collectively showing confidence in the stock despite recent selling.
• Analysts have downgraded their price targets for Lockheed Martin, with Royal Bank of Canada reducing theirs from $480 to $440, indicating a cautious outlook on the company's performance.

Bank Pictet & Cie Europe AG lowered its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 41.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,020 shares of the aerospace company's stock after selling 725 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Lockheed Martin were worth $472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Old North State Wealth Management LLC lifted its holdings in Lockheed Martin by 2.7% in the 2nd quarter. Old North State Wealth Management LLC now owns 1,052 shares of the aerospace company's stock worth $490,000 after buying an additional 28 shares during the period. Fortune Financial Advisors LLC lifted its holdings in Lockheed Martin by 1.6% in the 2nd quarter. Fortune Financial Advisors LLC now owns 3,307 shares of the aerospace company's stock worth $1,532,000 after buying an additional 51 shares during the period. Essex Financial Services Inc. lifted its holdings in Lockheed Martin by 5.0% in the 2nd quarter. Essex Financial Services Inc. now owns 6,582 shares of the aerospace company's stock worth $3,048,000 after buying an additional 311 shares during the period. Perigon Wealth Management LLC lifted its holdings in Lockheed Martin by 1.0% in the 2nd quarter. Perigon Wealth Management LLC now owns 15,695 shares of the aerospace company's stock worth $7,269,000 after buying an additional 151 shares during the period. Finally, Magnus Financial Group LLC lifted its holdings in Lockheed Martin by 5.9% in the 2nd quarter. Magnus Financial Group LLC now owns 5,415 shares of the aerospace company's stock worth $2,508,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their price objective on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Robert W. Baird lowered their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Alembic Global Advisors upgraded Lockheed Martin from a "neutral" rating to an "overweight" rating in a research note on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $494.00.

Lockheed Martin Stock Up 0.7%

LMT stock opened at $487.53 on Friday. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The firm has a market cap of $113.82 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.26. The business has a 50 day moving average of $448.68 and a 200 day moving average of $459.66.

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. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The company had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the company earned $7.11 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Profile

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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