HB Wealth Management LLC Buys 1,502 Shares of Lockheed Martin Corporation $LMT

Key Points

• HB Wealth Management LLC increased its stake in Lockheed Martin by 10.8%, owning 15,352 shares valued at approximately $7.11 million after an additional purchase of 1,502 shares in the second quarter.
• Analysts have decreased price targets for Lockheed Martin, with JPMorgan lowering its target from $520 to $465, while the average price target is now $494 with a consensus rating of "Hold."
• Lockheed Martin's latest earnings report showed an EPS of $7.29, exceeding expectations, although revenue reached $18.16 billion, slightly below the forecasted $18.59 billion.

HB Wealth Management LLC grew its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 10.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,352 shares of the aerospace company's stock after purchasing an additional 1,502 shares during the period. HB Wealth Management LLC's holdings in Lockheed Martin were worth $7,110,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LMT. Brighton Jones LLC lifted its holdings in shares of Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after acquiring an additional 191 shares during the last quarter. Gradient Investments LLC lifted its stake in Lockheed Martin by 3.1% in the first quarter. Gradient Investments LLC now owns 11,866 shares of the aerospace company's stock worth $5,301,000 after purchasing an additional 356 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Lockheed Martin by 8.8% during the first quarter. Merit Financial Group LLC now owns 12,961 shares of the aerospace company's stock valued at $5,790,000 after buying an additional 1,046 shares during the period. RFG Advisory LLC boosted its position in shares of Lockheed Martin by 10.0% during the first quarter. RFG Advisory LLC now owns 5,076 shares of the aerospace company's stock valued at $2,267,000 after buying an additional 462 shares during the period. Finally, EWG Elevate Inc. bought a new position in shares of Lockheed Martin during the first quarter valued at approximately $467,000. Institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LMT. JPMorgan Chase & Co. decreased their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Susquehanna reduced their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. TD Cowen reiterated a "hold" rating and set a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Finally, Vertical Research restated a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $494.00.

Lockheed Martin Price Performance

NYSE LMT opened at $499.10 on Wednesday. The company has a market cap of $116.52 billion, a PE ratio of 28.10, a P/E/G ratio of 1.73 and a beta of 0.26. The firm's 50 day moving average price is $451.05 and its 200-day moving average price is $460.03. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.11 earnings per share. 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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