Global Assets Advisory LLC Sells 3,060 Shares of Lockheed Martin Corporation $LMT

Key Points

• Global Assets Advisory LLC reduced its stake in Lockheed Martin Corporation by 52.4%, selling 3,060 shares, leaving them with 2,779 shares worth approximately $1.295 million as of their latest SEC filing.
• Lockheed Martin reported earnings of $7.29 per share, surpassing analyst expectations of $6.57, while revenue reached $18.16 billion, slightly below forecasts of $18.59 billion.
• Several analysts have adjusted their ratings on Lockheed Martin, with Truist Financial downgrading it from "buy" to "hold," and lowering the price target from $554 to $440.

Global Assets Advisory LLC cut its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 52.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,779 shares of the aerospace company's stock after selling 3,060 shares during the period. Global Assets Advisory LLC's holdings in Lockheed Martin were worth $1,295,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Grimes & Company Inc. increased its holdings in shares of Lockheed Martin by 5.8% during the 2nd quarter. Grimes & Company Inc. now owns 17,445 shares of the aerospace company's stock worth $8,079,000 after purchasing an additional 964 shares during the period. Merit Financial Group LLC increased its stake in Lockheed Martin by 73.7% during the second quarter. Merit Financial Group LLC now owns 22,518 shares of the aerospace company's stock valued at $10,429,000 after acquiring an additional 9,557 shares during the period. Keudell Morrison Wealth Management raised its holdings in Lockheed Martin by 3.3% in the 2nd quarter. Keudell Morrison Wealth Management now owns 1,770 shares of the aerospace company's stock valued at $820,000 after acquiring an additional 57 shares in the last quarter. Beacon Financial Advisory LLC lifted its position in shares of Lockheed Martin by 4.7% in the 2nd quarter. Beacon Financial Advisory LLC now owns 1,024 shares of the aerospace company's stock worth $474,000 after acquiring an additional 46 shares during the period. Finally, Gemmer Asset Management LLC lifted its position in shares of Lockheed Martin by 20.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 580 shares of the aerospace company's stock worth $269,000 after acquiring an additional 99 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

NYSE:LMT opened at $504.69 on Monday. 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 $117.82 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.77 and a beta of 0.28. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The company's 50-day moving average price is $455.88 and its two-hundred day moving average price is $460.66.

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, topping the consensus estimate of $6.57 by $0.72. The company had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company's revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price objective for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Robert W. Baird lowered their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Alembic Global Advisors raised shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a report on Thursday, August 28th. Cowen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, TD Cowen reissued a "hold" rating and issued a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. One research 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 MarketBeat, the company currently has an average rating of "Hold" and an average price target 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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