Lockheed Martin Corporation $LMT Shares Bought by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC raised its holdings in Lockheed Martin Corporation (NYSE:LMT) by 9.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,651 shares of the aerospace company’s stock after acquiring an additional 315 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Lockheed Martin were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake 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 buying an additional 560,457 shares in the last quarter. Nuveen LLC purchased a new stake in Lockheed Martin during the first quarter valued at about $221,790,000. AQR Capital Management LLC lifted its stake 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 valued at $361,045,000 after buying an additional 350,796 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake 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 valued at $135,985,000 after buying an additional 302,684 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake 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 valued at $333,859,000 after buying an additional 278,121 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LMT. Truist Financial downgraded Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Susquehanna dropped their target price on Lockheed Martin from $550.00 to $490.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. UBS Group dropped their target price 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 dropped their target price on Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating on the stock in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and a consensus target price of $494.00.

Lockheed Martin Trading Up 1.1%

Shares of LMT stock opened at $504.69 on Friday. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The business’s 50 day moving average is $455.88 and its two-hundred day moving average is $460.77. The company has a market cap of $117.83 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last announced its quarterly 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. 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 for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the company posted $7.11 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities analysts predict 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.