Checchi Capital Advisers LLC Sells 1,492 Shares of Lockheed Martin Corporation $LMT

Key Points

• Checchi Capital Advisers LLC reduced its stake in Lockheed Martin by 32.1%, selling 1,492 shares during the second quarter, bringing its total holdings to 3,162 shares worth approximately $1.464 million.
• Lockheed Martin reported $7.29 EPS for the last quarter, exceeding expectations of $6.57 EPS, with a revenue of $18.16 billion, which was slightly below analyst estimates.
• Target prices for Lockheed Martin have been adjusted downwards by several firms, with JPMorgan lowering its target from $520.00 to $465.00, while overall ratings range from Strong Buy to Hold.

Checchi Capital Advisers LLC lessened its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 32.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,162 shares of the aerospace company's stock after selling 1,492 shares during the quarter. Checchi Capital Advisers LLC's holdings in Lockheed Martin were worth $1,464,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Apexium Financial LP raised its holdings in shares of Lockheed Martin by 3.2% in the 2nd quarter. Apexium Financial LP now owns 957 shares of the aerospace company's stock worth $443,000 after acquiring an additional 30 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Lockheed Martin by 9.7% in the 2nd quarter. Quent Capital LLC now owns 1,101 shares of the aerospace company's stock worth $510,000 after acquiring an additional 97 shares during the last quarter. 111 Capital acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth about $2,087,000. Precedent Wealth Partners LLC raised its holdings in shares of Lockheed Martin by 9.4% in the 2nd quarter. Precedent Wealth Partners LLC now owns 3,651 shares of the aerospace company's stock worth $1,691,000 after acquiring an additional 315 shares during the last quarter. Finally, Fairvoy Private Wealth LLC raised its holdings in shares of Lockheed Martin by 3.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 775 shares of the aerospace company's stock worth $359,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Trading Up 1.1%

Shares of LMT stock opened at $504.69 on Friday. The company has a 50 day moving average of $455.88 and a 200-day moving average of $460.70. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The firm has a market cap of $117.82 billion, a P/E ratio of 28.42, a PEG ratio of 1.77 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. 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 business posted $7.11 EPS. Lockheed Martin's quarterly revenue 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 anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on LMT. Susquehanna lowered their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. TD Cowen reiterated a "hold" rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, Bank of America decreased their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently 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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