Lockheed Martin Corporation $LMT Stake Boosted by Chemung Canal Trust Co.

Key Points

• Chemung Canal Trust Co. has significantly increased its stake in Lockheed Martin Corporation by 195.9%, owning 2,900 shares worth approximately $1.34 million as of the latest SEC filing.
• Several institutional investors have also acquired new positions in Lockheed Martin, contributing to a total of 74.19% of the company's stock being held by such investors.
• Lockheed Martin recently reported earnings of $7.29 per share for the last quarter, exceeding analysts' expectations, though revenue was slightly below forecasts at $18.16 billion.

Chemung Canal Trust Co. increased its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 195.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,900 shares of the aerospace company's stock after purchasing an additional 1,920 shares during the quarter. Chemung Canal Trust Co.'s holdings in Lockheed Martin were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LMT. TruNorth Capital Management LLC acquired a new position in shares of Lockheed Martin in the 1st quarter valued at about $31,000. EQ Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the 1st quarter valued at about $43,000. Ritter Daniher Financial Advisory LLC DE acquired a new position in shares of Lockheed Martin in the 1st quarter valued at about $45,000. McIlrath & Eck LLC increased its holdings in shares of Lockheed Martin by 161.0% in the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock valued at $48,000 after purchasing an additional 66 shares during the period. Finally, Creative Capital Management Investments LLC increased its holdings in shares of Lockheed Martin by 2,575.0% in the 2nd quarter. Creative Capital Management Investments LLC now owns 107 shares of the aerospace company's stock valued at $50,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research reports. Susquehanna dropped their target price on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada dropped their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price target for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Lockheed Martin in a research note on Saturday, September 27th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Stock Up 1.1%

Shares of Lockheed Martin stock opened at $504.69 on Friday. The stock has a market capitalization of $117.82 billion, a P/E ratio of 28.42, a PEG ratio of 1.77 and a beta of 0.28. 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 stock has a 50 day moving average price of $455.88 and a two-hundred day moving average price of $460.70. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month 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 (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the prior year, the business earned $7.11 earnings per share. The company's revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current 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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