Sitrin Capital Management LLC Sells 1,135 Shares of Lockheed Martin Corporation $LMT

Key Points

• Sitrin Capital Management LLC has reduced its stake in Lockheed Martin by 12.1%, selling 1,135 shares, and now holds a total of 8,272 shares valued at approximately $3.83 million.
• Lockheed Martin reported $7.29 earnings per share (EPS) for its most recent quarter, exceeding analysts' expectations of $6.57, although its revenue of $18.16 billion was slightly below forecasts.
• Recent analyst ratings have downgraded Lockheed Martin from "buy" to "hold", with price targets adjusted downwards by multiple firms, reflecting a shift in market sentiment.

Sitrin Capital Management LLC lessened its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,272 shares of the aerospace company's stock after selling 1,135 shares during the period. Sitrin Capital Management LLC's holdings in Lockheed Martin were worth $3,831,000 as of its most recent SEC filing.

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

Lockheed Martin Trading Up 0.6%

Lockheed Martin stock opened at $513.98 on Thursday. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The stock has a market capitalization of $119.99 billion, a P/E ratio of 28.94, a PEG ratio of 1.80 and a beta of 0.28. The stock has a 50-day simple moving average of $461.48 and a 200 day simple moving average of $461.89. 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 (NYSE:LMT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter in the previous year, the company posted $7.11 earnings per share. The business'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. Analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Truist Financial downgraded Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price target for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. UBS Group reduced their price objective on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Vertical Research restated a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Finally, TD Cowen reiterated a "hold" rating and set a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, Lockheed Martin has an average rating of "Hold" and an average target price of $496.88.

Lockheed Martin 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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