Old Port Advisors Increases Holdings in Lockheed Martin Corporation $LMT

Key Points

• Old Port Advisors increased its stake in Lockheed Martin by 127.1% during the second quarter, bringing its holdings to worth $1,049,000.
• Several hedge funds significantly boosted their positions in Lockheed Martin, with Entropy Technologies LP increasing its holdings by 410.2% in the first quarter.
• Analysts have mixed ratings on Lockheed Martin, with a majority rating the stock as a "hold," and a recent price target adjustment down to $480.00 by Bank of America.

Old Port Advisors boosted its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 127.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,264 shares of the aerospace company's stock after purchasing an additional 1,267 shares during the quarter. Old Port Advisors' holdings in Lockheed Martin were worth $1,049,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LMT. Entropy Technologies LP increased its position in Lockheed Martin by 410.2% in the first quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company's stock worth $7,874,000 after purchasing an additional 14,171 shares during the last quarter. PTM Wealth Management LLC acquired a new stake in Lockheed Martin in the first quarter valued at $377,000. First American Bank raised its holdings in shares of Lockheed Martin by 18.8% in the 1st quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after purchasing an additional 1,327 shares during the period. Empowered Funds LLC boosted its position in Lockheed Martin by 21.2% during the 1st quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company's stock valued at $18,038,000 after purchasing an additional 7,052 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Lockheed Martin by 18.6% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock valued at $7,652,000 after purchasing an additional 2,686 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

LMT has been the subject of a number of research analyst reports. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Wall Street Zen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. TD Cowen restated a "hold" rating and set a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Alembic Global Advisors upgraded shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a research note on Thursday, August 28th. Finally, Bank of America dropped their target price on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating on the stock in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Hold" and an average price target of $494.00.

Lockheed Martin Price Performance

NYSE LMT opened at $487.53 on Friday. The stock has a market cap of $113.82 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.70 and a beta of 0.26. 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. The business has a 50 day simple moving average of $448.68 and a 200 day simple moving average of $459.66.

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