Trust Co of Kansas Sells 503 Shares of Lockheed Martin Corporation $LMT

Key Points

• Trust Co of Kansas reduced its holdings in Lockheed Martin Corporation by 3.4%, selling 503 shares and maintaining 14,173 shares, which are now valued at $6.56 million.
• Lockheed Martin's stock received mixed analyst ratings, with Alembic Global Advisors upgrading the stock to "overweight," while UBS Group and Robert W. Baird lowered their price targets.
• For the latest quarter, Lockheed Martin reported earnings of $7.29 per share, surpassing estimates and showing a slight revenue increase compared to the previous year.

Trust Co of Kansas decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,173 shares of the aerospace company's stock after selling 503 shares during the period. Lockheed Martin accounts for about 3.1% of Trust Co of Kansas' portfolio, making the stock its 13th biggest position. Trust Co of Kansas' holdings in Lockheed Martin were worth $6,564,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Lockheed Martin by 7.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after purchasing an additional 560,457 shares during the period. Royal Bank of Canada boosted its holdings in shares of Lockheed Martin by 1.4% in the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock worth $1,021,846,000 after acquiring an additional 31,443 shares during the period. Invesco Ltd. raised its position in shares of Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock worth $958,116,000 after buying an additional 12,899 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lockheed Martin by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock worth $580,317,000 after buying an additional 24,512 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Lockheed Martin by 4.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company's stock worth $518,937,000 after buying an additional 51,522 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on LMT. Alembic Global Advisors upgraded Lockheed Martin from a "neutral" rating to an "overweight" rating in a research report on Thursday, August 28th. UBS Group reduced their price target on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Robert W. Baird cut 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. 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. Finally, Wall Street Zen cut 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 assigned a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $494.00.

Lockheed Martin Stock Down 0.0%

Shares of NYSE:LMT opened at $499.18 on Thursday. 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. The company has a 50-day moving average price of $452.65 and a 200 day moving average price of $460.30. The company has a market cap of $116.54 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.76 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data 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. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the company posted $7.11 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

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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