State of Alaska Department of Revenue Decreases Stake in Lockheed Martin Corporation $LMT

Key Points

• The State of Alaska Department of Revenue reduced its stake in Lockheed Martin Corporation by 3.5%, holding 31,284 shares worth approximately $14.5 million after selling 1,130 shares.
• Lockheed Martin's stock received a mix of ratings from analysts, with one Strong Buy, six Buy, and fourteen Hold ratings, and an average price target of $494.00.
• The company reported earnings of $7.29 per share for the quarter, outpacing analysts' expectations and showing a slight year-over-year revenue increase of 0.2%.

State of Alaska Department of Revenue decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,284 shares of the aerospace company's stock after selling 1,130 shares during the quarter. State of Alaska Department of Revenue's holdings in Lockheed Martin were worth $14,488,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $31,000. EQ Wealth Advisors LLC bought a new stake in shares of Lockheed Martin in the 1st quarter valued at $43,000. Ritter Daniher Financial Advisory LLC DE bought 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% during the first quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock worth $48,000 after purchasing an additional 66 shares during the period. Finally, Dagco Inc. bought a new stake in shares of Lockheed Martin during the first quarter worth $50,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Royal Bank Of Canada reduced their price objective 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. Susquehanna lowered their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Finally, TD Cowen restated a "hold" rating and issued 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 fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $494.00.

Lockheed Martin Stock Up 0.7%

Shares of NYSE:LMT opened at $487.53 on Friday. The stock's 50-day moving average price is $448.68 and its two-hundred day moving average price is $459.66. The firm 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 current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. 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, beating analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the prior year, the firm posted $7.11 EPS. Lockheed Martin'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 forecast that Lockheed Martin Corporation will post 27.15 EPS 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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