OLD Point Trust & Financial Services N A Boosts Stake in Lockheed Martin Corporation $LMT

OLD Point Trust & Financial Services N A lifted its holdings in Lockheed Martin Corporation (NYSE:LMT) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,067 shares of the aerospace company’s stock after buying an additional 40 shares during the quarter. Lockheed Martin accounts for 1.3% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 23rd biggest holding. OLD Point Trust & Financial Services N A’s holdings in Lockheed Martin were worth $3,736,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LMT. Charles Schwab Investment Management Inc. boosted its stake in shares of Lockheed Martin by 7.5% in 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 buying an additional 560,457 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Lockheed Martin in the first quarter valued at approximately $221,790,000. AQR Capital Management LLC raised its holdings in Lockheed Martin by 76.7% during the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock worth $361,045,000 after purchasing an additional 350,796 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Lockheed Martin by 17,506.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock worth $135,985,000 after purchasing an additional 302,684 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Lockheed Martin by 59.3% during the first quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company’s stock worth $333,859,000 after purchasing an additional 278,121 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LMT shares. Bank of America reduced their price objective on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Thursday, August 21st. Robert W. Baird reduced their price objective on Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating for the company 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 for the company in a report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the stock a “market perform” rating in a report on Monday, July 14th. Finally, Wall Street Zen cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and an average price target of $494.00.

Lockheed Martin Stock Performance

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

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share 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.