Old North State Wealth Management LLC Acquires 28 Shares of Lockheed Martin Corporation $LMT

Old North State Wealth Management LLC increased its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.7% during the 2nd quarter, Holdings Channel reports. The fund owned 1,052 shares of the aerospace company’s stock after buying an additional 28 shares during the quarter. Old North State Wealth Management LLC’s holdings in Lockheed Martin were worth $490,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after buying an additional 1,986,600 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 during the period. Nuveen LLC bought a new position in shares of Lockheed Martin in the first quarter worth about $221,790,000. AQR Capital Management LLC lifted its holdings in shares of Lockheed Martin by 76.7% in the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company’s stock worth $361,045,000 after acquiring an additional 350,796 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Lockheed Martin by 17,506.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company’s stock valued at $135,985,000 after buying an additional 302,684 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the company a “market perform” rating in a research report on Monday, July 14th. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. UBS Group dropped their price objective on Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada decreased their target price on Lockheed Martin from $480.00 to $440.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 23rd. Finally, Bank of America decreased their price objective on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $494.00.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $484.75 on Friday. 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 one year low of $410.11 and a one year high of $618.95. The stock has a market capitalization of $113.17 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.71 and a beta of 0.26. The business’s 50 day simple moving average is $448.21 and its two-hundred day simple moving average is $459.53.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to analysts’ expectations 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 was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current 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.