Birinyi Associates Inc. Trims Stock Position in Lockheed Martin Corporation $LMT

Birinyi Associates Inc. lowered its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,800 shares of the aerospace company’s stock after selling 100 shares during the quarter. Birinyi Associates Inc.’s holdings in Lockheed Martin were worth $834,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at about $31,000. EQ Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at about $43,000. Ritter Daniher Financial Advisory LLC DE purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at about $45,000. McIlrath & Eck LLC increased its position in shares of Lockheed Martin by 161.0% during the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company’s stock valued at $48,000 after purchasing an additional 66 shares during the last quarter. Finally, Dagco Inc. purchased a new stake in shares of Lockheed Martin during the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.6%

Shares of LMT opened at $511.28 on Wednesday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95. The company has a 50 day simple moving average of $459.57 and a two-hundred day simple moving average of $461.53. The firm has a market cap of $119.36 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 1.81 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating 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 business had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period last year, the firm posted $7.11 EPS. The company’s revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on LMT. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a “market perform” rating in a report on Monday, July 14th. Cowen cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Susquehanna decreased their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Finally, TD Cowen restated a “hold” rating and set a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $497.13.

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.