Hennessy Advisors Inc. Trims Stock Holdings in Lockheed Martin Corporation $LMT

Hennessy Advisors Inc. trimmed its stake in Lockheed Martin Corporation (NYSE:LMT) by 1.8% during the second quarter, Holdings Channel.com reports. The fund owned 5,400 shares of the aerospace company’s stock after selling 100 shares during the period. Hennessy Advisors Inc.’s holdings in Lockheed Martin were worth $2,501,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LMT. TruNorth Capital Management LLC acquired a new stake in shares of Lockheed Martin during the first quarter worth about $31,000. EQ Wealth Advisors LLC purchased a new stake in Lockheed Martin during the 1st quarter worth approximately $43,000. Ritter Daniher Financial Advisory LLC DE acquired a new stake in Lockheed Martin during the 1st quarter worth approximately $45,000. McIlrath & Eck LLC boosted its position in Lockheed Martin by 161.0% in the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company’s stock valued at $48,000 after buying an additional 66 shares during the period. Finally, Dagco Inc. acquired a new position in shares of Lockheed Martin in the first quarter worth $50,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Lockheed Martin in a research note on Saturday, September 27th. Truist Financial downgraded Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $554.00 to $440.00 in a report on Wednesday, July 23rd. Susquehanna decreased 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. lowered their price objective on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Finally, Vertical Research reaffirmed a “hold” rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. One 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 stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $494.00.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $504.69 on Friday. The stock’s 50-day simple moving average is $455.88 and its 200-day simple moving average is $460.70. The firm has a market capitalization of $117.82 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.77 and a beta of 0.28. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98.

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 net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the firm posted $7.11 earnings per share. The firm’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. As a group, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Company 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.