OLD National Bancorp IN Has $11.56 Million Holdings in Lockheed Martin Corporation $LMT

OLD National Bancorp IN cut its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 5.6% in the second quarter, Holdings Channel reports. The institutional investor owned 24,966 shares of the aerospace company’s stock after selling 1,478 shares during the quarter. OLD National Bancorp IN’s holdings in Lockheed Martin were worth $11,563,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Entropy Technologies LP boosted its stake in Lockheed Martin by 410.2% during the first quarter. Entropy Technologies LP now owns 17,626 shares of the aerospace company’s stock worth $7,874,000 after buying an additional 14,171 shares in the last quarter. PTM Wealth Management LLC acquired a new stake in Lockheed Martin during the first quarter worth $377,000. First American Bank boosted its stake in Lockheed Martin by 18.8% during the first quarter. First American Bank now owns 8,393 shares of the aerospace company’s stock worth $3,749,000 after buying an additional 1,327 shares in the last quarter. Empowered Funds LLC boosted its stake in Lockheed Martin by 21.2% during the first quarter. Empowered Funds LLC now owns 40,380 shares of the aerospace company’s stock worth $18,038,000 after buying an additional 7,052 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. boosted its stake in Lockheed Martin by 18.6% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company’s stock worth $7,652,000 after buying an additional 2,686 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Up 1.1%

Shares of NYSE:LMT opened at $504.69 on Friday. The company’s 50-day moving average price is $455.88 and its two-hundred day moving average price is $460.70. 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 firm has a market cap of $117.82 billion, a P/E ratio of 28.42, a P/E/G ratio of 1.77 and a beta of 0.28. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent analyst reports. Truist Financial lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Susquehanna dropped their price objective on Lockheed Martin from $550.00 to $490.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Vertical Research reiterated a “hold” rating and set a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Finally, UBS Group lowered their target price on Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $494.00.

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.