Grimes & Company Inc. Increases Position in Lockheed Martin Corporation $LMT

Key Points

• Grimes & Company Inc. increased its holdings in Lockheed Martin Corporation by 5.8%, totaling 17,445 shares valued at $8,079,000, according to its latest SEC filing.
• Lockheed Martin reported earnings of $7.29 per share, exceeding estimates, but with revenue slightly below expectations at $18.16 billion.
• Currently, 74.19% of Lockheed Martin's stock is owned by institutional investors, with several firms increasing their stakes significantly in recent quarters.

Grimes & Company Inc. grew its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,445 shares of the aerospace company's stock after purchasing an additional 964 shares during the quarter. Grimes & Company Inc.'s holdings in Lockheed Martin were worth $8,079,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LMT. Charles Schwab Investment Management Inc. grew its holdings in Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after buying an additional 560,457 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Lockheed Martin in the first quarter valued at about $221,790,000. AQR Capital Management LLC grew its holdings in shares of Lockheed Martin by 76.7% in the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock valued at $361,045,000 after purchasing an additional 350,796 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Lockheed Martin by 17,506.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company's stock worth $135,985,000 after purchasing an additional 302,684 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Lockheed Martin by 59.3% during the first quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company's stock worth $333,859,000 after purchasing an additional 278,121 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 1.1%

Shares of NYSE LMT opened at $504.69 on Monday. The stock has a fifty day simple moving average of $455.88 and a 200-day simple moving average of $460.66. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The stock has a market capitalization of $117.82 billion, a PE ratio of 28.42, a PEG ratio of 1.77 and a beta of 0.28.

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

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. Susquehanna decreased their price target on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Finally, UBS Group cut their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently 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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