Truist Financial Corp Acquires 7,518 Shares of Lockheed Martin Corporation $LMT

Key Points

• Truist Financial Corp increased its stake in Lockheed Martin by 2.8%, acquiring an additional 7,518 shares, bringing its total holdings to 280,883 shares worth approximately $130 million.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding analysts' expectations of $6.57, while its revenue reached $18.16 billion.
• Analysts have given mixed ratings for Lockheed Martin, with one upgrade to "overweight" and various adjustments to price targets, reflecting a range of opinions on the stock's performance.

Truist Financial Corp lifted its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 280,883 shares of the aerospace company's stock after purchasing an additional 7,518 shares during the period. Truist Financial Corp owned 0.12% of Lockheed Martin worth $130,088,000 at the end of the most recent quarter.

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

Lockheed Martin Trading Up 1.4%

NYSE LMT opened at $499.10 on Wednesday. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The stock has a 50 day moving average of $451.05 and a 200-day moving average of $460.03. The company has a market cap of $116.52 billion, a PE ratio of 28.10, a PEG ratio of 1.73 and a beta of 0.26.

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 business had revenue of $18.16 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Alembic Global Advisors upgraded Lockheed Martin from a "neutral" rating to an "overweight" rating in a report on Thursday, August 28th. Royal Bank Of Canada cut their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Susquehanna reduced their price target on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Vertical Research reissued a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $494.00.

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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