BankPlus Trust Department Grows Position in Lockheed Martin Corporation $LMT

Key Points

• BankPlus Trust Department increased its holdings in Lockheed Martin Corporation by 8.5% during Q2, now owning 6,642 shares valued at approximately $3.08 million.
• Analysts have mixed ratings for Lockheed Martin, with one Strong Buy rating, six Buy ratings, and a majority of fifteen Hold ratings, while the average target price sits at $497.13.
• Lockheed Martin reported Q2 earnings of $7.29 EPS, exceeding estimates, though revenues marginally fell short of projections at $18.16 billion.

BankPlus Trust Department grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,642 shares of the aerospace company's stock after buying an additional 520 shares during the period. Lockheed Martin accounts for 0.9% of BankPlus Trust Department's investment portfolio, making the stock its 21st biggest position. BankPlus Trust Department's holdings in Lockheed Martin were worth $3,076,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Godsey & Gibb Inc. grew its position in shares of Lockheed Martin by 14.7% in the second quarter. Godsey & Gibb Inc. now owns 405 shares of the aerospace company's stock valued at $188,000 after purchasing an additional 52 shares during the period. TriaGen Wealth Management LLC purchased a new stake in Lockheed Martin during the second quarter valued at about $213,000. RMG Wealth Management LLC purchased a new stake in Lockheed Martin during the second quarter valued at about $1,576,000. Trueblood Wealth Management LLC grew its position in Lockheed Martin by 3.8% during the second quarter. Trueblood Wealth Management LLC now owns 1,471 shares of the aerospace company's stock valued at $681,000 after acquiring an additional 54 shares during the period. Finally, Seamount Financial Group Inc. purchased a new stake in Lockheed Martin during the second quarter valued at about $207,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Alembic Global Advisors raised Lockheed Martin from a "neutral" rating to an "overweight" rating in a research report on Thursday, August 28th. Vertical Research restated a "hold" rating and set a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Lockheed Martin in a research note on Saturday, September 27th. UBS Group reduced their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Finally, Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $554.00 to $440.00 in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $497.13.

Lockheed Martin Trading Down 0.6%

Shares of LMT opened at $511.28 on Wednesday. The company has a market capitalization of $119.36 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.81 and a beta of 0.28. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The stock has a 50-day moving average price of $459.57 and a 200 day moving average price of $461.53.

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

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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