Parsons Capital Management Inc. RI Sells 194 Shares of Lockheed Martin Corporation $LMT

Parsons Capital Management Inc. RI reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,344 shares of the aerospace company’s stock after selling 194 shares during the period. Parsons Capital Management Inc. RI’s holdings in Lockheed Martin were worth $3,401,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new position in Lockheed Martin in the 1st quarter worth approximately $31,000. EQ Wealth Advisors LLC bought a new position in Lockheed Martin in the 1st quarter worth approximately $43,000. Ritter Daniher Financial Advisory LLC DE bought a new position in Lockheed Martin in the 1st quarter worth approximately $45,000. McIlrath & Eck LLC boosted its holdings in Lockheed Martin by 161.0% in the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company’s stock worth $48,000 after buying an additional 66 shares during the period. Finally, Dagco Inc. bought a new position in Lockheed Martin in the 1st quarter worth approximately $50,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

NYSE LMT opened at $499.18 on Thursday. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-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. The company has a market capitalization of $116.54 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.76 and a beta of 0.28. The company has a fifty day moving average of $452.65 and a 200-day moving average of $460.30.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the firm posted $7.11 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, equities research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Analyst Ratings Changes

LMT has been the subject of several analyst reports. TD Cowen reaffirmed a “hold” rating and issued a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Susquehanna cut their price objective on shares of Lockheed Martin from $550.00 to $490.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Vertical Research reaffirmed a “hold” rating and issued a $460.00 price objective on shares of Lockheed Martin in a report on Tuesday, July 22nd. Alembic Global Advisors raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. Finally, Robert W. Baird cut their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an “outperform” rating for the company in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus target price of $494.00.

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.