Destiny Wealth Partners LLC Buys Shares of 711 Lockheed Martin Corporation $LMT

Destiny Wealth Partners LLC bought a new position in Lockheed Martin Corporation (NYSE:LMT) in the 2nd quarter, Holdings Channel.com reports. The fund bought 711 shares of the aerospace company’s stock, valued at approximately $329,000.

A number of other large investors have also recently bought and sold shares of LMT. ST Germain D J Co. Inc. raised its holdings in Lockheed Martin by 30.2% during the second quarter. ST Germain D J Co. Inc. now owns 3,919 shares of the aerospace company’s stock valued at $1,815,000 after buying an additional 908 shares in the last quarter. Spinnaker Investment Group LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter valued at about $204,000. FCG Investment Co lifted its holdings in Lockheed Martin by 98.3% in the 2nd quarter. FCG Investment Co now owns 3,430 shares of the aerospace company’s stock worth $1,589,000 after purchasing an additional 1,700 shares during the last quarter. Falcon Wealth Planning boosted its position in Lockheed Martin by 4.8% during the second quarter. Falcon Wealth Planning now owns 723 shares of the aerospace company’s stock worth $335,000 after purchasing an additional 33 shares during the period. Finally, Novem Group acquired a new position in Lockheed Martin during the second quarter valued at approximately $965,000. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Susquehanna cut their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the company a “market perform” rating in a research note on Monday, July 14th. Alembic Global Advisors upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. Truist Financial downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Finally, TD Cowen restated a “hold” rating and issued a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $494.00.

Lockheed Martin Trading Down 0.3%

Shares of LMT opened at $484.75 on Friday. The stock has a 50 day simple moving average of $448.21 and a 200-day simple moving average of $459.53. 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 market cap of $113.17 billion, a PE ratio of 27.29, a PEG ratio of 1.71 and a beta of 0.26. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

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.