QRG Capital Management Inc. Sells 25,930 Shares of Lockheed Martin Corporation $LMT

Key Points

• QRG Capital Management Inc. has reduced its stake in Lockheed Martin by 57.7%, selling 25,930 shares and ending the quarter with 19,033 shares valued at approximately $8.8 million.
• Recent analyst ratings show mixed sentiments, with price targets lowered by firms including UBS and JPMorgan, while Lockheed Martin retains a consensus rating of "Hold" and an average target price of $494.
• Lockheed Martin recently reported quarterly earnings, achieving $7.29 EPS, exceeding expectations, but fell short on revenue, generating $18.16 billion against an expected $18.59 billion.

QRG Capital Management Inc. decreased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 57.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,033 shares of the aerospace company's stock after selling 25,930 shares during the quarter. QRG Capital Management Inc.'s holdings in Lockheed Martin were worth $8,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LMT. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin during the 1st quarter worth $31,000. EQ Wealth Advisors LLC bought a new stake in Lockheed Martin during the first quarter valued at about $43,000. Ritter Daniher Financial Advisory LLC DE bought a new stake in Lockheed Martin during the first quarter valued at about $45,000. McIlrath & Eck LLC boosted its position in Lockheed Martin by 161.0% during the first quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock valued at $48,000 after purchasing an additional 66 shares in the last quarter. Finally, Dagco Inc. bought a new stake in Lockheed Martin during the first quarter valued at about $50,000. Institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LMT shares. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a research report on Monday, July 14th. UBS Group dropped their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Robert W. Baird dropped their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. One investment 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's stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of "Hold" and a consensus target price of $494.00.

Lockheed Martin Trading Up 1.1%

Lockheed Martin stock opened at $504.69 on Friday. The stock has a 50-day moving average of $455.88 and a two-hundred day moving average of $460.70. 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 one year low of $410.11 and a one year high of $618.95. The stock has a market cap of $117.82 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.77 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating 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 company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period last year, the business posted $7.11 earnings per share. The firm's revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, research analysts anticipate 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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