Franklin Street Advisors Inc. NC Decreases Stake in Lockheed Martin Corporation $LMT

Key Points

• Franklin Street Advisors Inc. NC has significantly reduced its stake in Lockheed Martin Corporation by 69.3% in the second quarter, now holding only 590 shares valued at $273,000.
• Lockheed Martin reported earnings of $7.29 per share for the last quarter, surpassing analysts' expectations, but its revenue of $18.16 billion fell short of estimates.
• Equities research analysts have recently downgraded Lockheed Martin's stock ratings and price targets, with the average target now set at $494.00, indicating a cautious outlook on the company's future performance.

Franklin Street Advisors Inc. NC lowered its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 69.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 590 shares of the aerospace company's stock after selling 1,333 shares during the quarter. Franklin Street Advisors Inc. NC's holdings in Lockheed Martin were worth $273,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LMT. Entropy Technologies LP grew its holdings in Lockheed Martin by 410.2% during the 1st quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company's stock valued at $7,874,000 after buying an additional 14,171 shares in the last quarter. PTM Wealth Management LLC purchased a new stake in shares of Lockheed Martin in the first quarter worth about $377,000. First American Bank lifted its holdings in shares of Lockheed Martin by 18.8% in the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after buying an additional 1,327 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Lockheed Martin by 21.2% in the first quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company's stock worth $18,038,000 after buying an additional 7,052 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Lockheed Martin by 18.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after buying an additional 2,686 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Up 1.1%

Shares of LMT opened at $504.69 on Friday. The firm's 50 day simple moving average is $455.88 and its 200 day simple moving average is $460.77. The company has a market capitalization of $117.83 billion, a P/E ratio of 28.42, a P/E/G ratio of 1.76 and a beta of 0.28. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. 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 announced its earnings results 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 net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the firm posted $7.11 earnings per share. Lockheed Martin's quarterly revenue was up .2% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price target for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. Bank of America lowered their price target on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a report on Thursday, August 21st. TD Cowen reissued a "hold" rating and issued a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Finally, Vertical Research reissued a "hold" rating and issued a $460.00 price target on shares of Lockheed Martin in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, Lockheed Martin has a consensus rating of "Hold" and an average target price of $494.00.

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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