Independence Bank of Kentucky Boosts Position in Lockheed Martin Corporation $LMT

Independence Bank of Kentucky grew its stake in Lockheed Martin Corporation (NYSE:LMT) by 1.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,269 shares of the aerospace company’s stock after buying an additional 38 shares during the period. Independence Bank of Kentucky’s holdings in Lockheed Martin were worth $1,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LMT. TruNorth Capital Management LLC purchased a new stake in Lockheed Martin in the first quarter worth about $31,000. EQ Wealth Advisors LLC purchased a new stake in Lockheed Martin in the first quarter worth about $43,000. Ritter Daniher Financial Advisory LLC DE purchased a new stake in Lockheed Martin in the first quarter worth about $45,000. McIlrath & Eck LLC increased its position in Lockheed Martin by 161.0% in the first quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company’s stock worth $48,000 after buying an additional 66 shares in the last quarter. Finally, Dagco Inc. purchased a new stake in Lockheed Martin in the first quarter worth about $50,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the subject of several research analyst reports. Alembic Global Advisors upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating in a research report on Thursday, August 28th. Vertical Research reiterated a “hold” rating and set a $460.00 target price on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the stock a “market perform” rating in a research report on Monday, July 14th. Robert W. Baird cut their target price on Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $494.00.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $487.53 on Monday. The stock has a 50 day moving average of $448.68 and a 200 day moving average of $459.59. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The firm has a market cap of $113.82 billion, a PE ratio of 27.45, a PEG ratio of 1.71 and a beta of 0.26. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

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 analysts’ consensus estimates of $6.57 by $0.72. The company 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 firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, research analysts expect 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.