Lockheed Martin Corporation $LMT Stake Lifted by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC increased its stake in Lockheed Martin Corporation by 25.2% in the second quarter, owning 20,771 shares valued at $9,618,000.
• Lockheed Martin reported earnings of $7.29 per share for the latest quarter, exceeding analysts' expectations of $6.57, although its revenue of $18.16 billion fell short of the forecast of $18.59 billion.
• Currently, Lockheed Martin shares have an average rating of "Hold" from analysts, with a consensus price target of $497.13.

DAVENPORT & Co LLC boosted its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 25.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,771 shares of the aerospace company's stock after buying an additional 4,179 shares during the period. DAVENPORT & Co LLC's holdings in Lockheed Martin were worth $9,618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. 49 Wealth Management LLC increased its stake in shares of Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after purchasing an additional 22 shares during the period. OMNI 360 Wealth Inc. grew its holdings in Lockheed Martin by 2.5% in the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after buying an additional 22 shares in the last quarter. Tyler Stone Wealth Management increased its position in Lockheed Martin by 3.3% in the 1st quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock valued at $306,000 after acquiring an additional 22 shares during the period. Investment Advisory Services Inc. TX ADV increased its position in Lockheed Martin by 4.7% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company's stock valued at $225,000 after acquiring an additional 22 shares during the period. Finally, Broadway Wealth Solutions Inc. raised its stake in Lockheed Martin by 4.5% during the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company's stock valued at $237,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $514.46 on Tuesday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The firm's 50 day moving average is $457.74 and its 200-day moving average is $461.18. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The stock has a market capitalization of $120.11 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.77 and a beta of 0.28.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. 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 note on Thursday, July 10th. Susquehanna decreased their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Lockheed Martin in a research note on Saturday, September 27th. Royal Bank Of Canada reduced their price target 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. Finally, Bank of America decreased their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a report on Thursday, August 21st. One 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 MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and a consensus price target of $497.13.

Lockheed Martin Company 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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