Red Mountain Financial LLC Lowers Holdings in Lockheed Martin Corporation $LMT

Red Mountain Financial LLC lowered its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,813 shares of the aerospace company’s stock after selling 143 shares during the quarter. Lockheed Martin makes up 1.1% of Red Mountain Financial LLC’s holdings, making the stock its 26th largest position. Red Mountain Financial LLC’s holdings in Lockheed Martin were worth $847,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LMT. Charles Schwab Investment Management Inc. boosted its position 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 worth $3,587,444,000 after purchasing an additional 560,457 shares in the last quarter. Nuveen LLC purchased a new position in Lockheed Martin during the first quarter worth approximately $221,790,000. AQR Capital Management LLC boosted its position 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 worth $361,045,000 after purchasing an additional 350,796 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position 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 worth $135,985,000 after purchasing an additional 302,684 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position 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 worth $333,859,000 after purchasing an additional 278,121 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LMT shares. Cowen downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. Robert W. Baird reduced their target price on Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating for the company in a report on Wednesday, July 23rd. UBS Group reduced their target price on Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Susquehanna reduced their target price on Lockheed Martin from $550.00 to $490.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Finally, Vertical Research reissued a “hold” rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $494.00.

Lockheed Martin Trading Up 0.0%

Shares of NYSE LMT opened at $499.12 on Friday. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. 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 stock has a fifty day simple moving average of $454.21 and a 200-day simple moving average of $460.52. The stock has a market capitalization of $116.52 billion, a PE ratio of 28.10, a PEG ratio of 1.75 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping 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 firm had revenue of $18.16 billion during the quarter, compared to analysts’ expectations of $18.59 billion. During the same period in the previous year, the firm posted $7.11 EPS. Lockheed Martin’s revenue for the quarter 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 forecast that Lockheed Martin Corporation will post 27.15 earnings per share 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.