Cullinan Associates Inc. Cuts Stock Holdings in Lockheed Martin Corporation $LMT

Cullinan Associates Inc. trimmed its stake in Lockheed Martin Corporation (NYSE:LMT) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,358 shares of the aerospace company’s stock after selling 170 shares during the period. Cullinan Associates Inc.’s holdings in Lockheed Martin were worth $9,892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LMT. Charles Schwab Investment Management Inc. grew its position in 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 worth $3,587,444,000 after acquiring an additional 560,457 shares in the last quarter. Royal Bank of Canada lifted its stake in Lockheed Martin by 1.4% during 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 purchasing an additional 31,443 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Lockheed Martin by 0.6% in the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company’s stock worth $958,116,000 after purchasing an additional 12,899 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lockheed Martin by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company’s stock valued at $580,317,000 after purchasing an additional 24,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Lockheed Martin by 4.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company’s stock valued at $518,937,000 after buying an additional 51,522 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $504.69 on Monday. 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 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 1-year low of $410.11 and a 1-year high of $618.95. The firm has a 50-day moving average of $455.88 and a 200-day moving average of $460.66.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts’ consensus estimates of $6.57 by $0.72. The business 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%.Lockheed Martin’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LMT shares. Vertical Research reaffirmed a “hold” rating and issued a $460.00 target price on shares of Lockheed Martin in a research note on Tuesday, July 22nd. TD Cowen reaffirmed a “hold” rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Susquehanna reduced their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Bank of America reduced their price objective on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.