Chemung Canal Trust Co. Has $1.34 Million Holdings in Lockheed Martin Corporation $LMT

Chemung Canal Trust Co. raised its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 195.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,900 shares of the aerospace company’s stock after buying an additional 1,920 shares during the quarter. Chemung Canal Trust Co.’s holdings in Lockheed Martin were worth $1,343,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. 49 Wealth Management LLC raised its stake in shares of Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company’s stock valued at $295,000 after purchasing an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. raised its stake in shares of Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 22 shares in the last quarter. Tyler Stone Wealth Management raised its stake in shares of Lockheed Martin by 3.3% in the first quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company’s stock valued at $306,000 after purchasing an additional 22 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its stake in shares of Lockheed Martin by 4.7% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company’s stock valued at $225,000 after purchasing an additional 22 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. raised its stake in shares of Lockheed Martin by 4.5% in the second quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company’s stock valued at $237,000 after purchasing an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of LMT stock opened at $504.69 on Friday. The stock’s fifty day moving average is $455.88 and its 200-day moving average is $460.70. 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 stock has a market capitalization of $117.82 billion, a PE ratio of 28.42, a PEG ratio of 1.77 and a beta of 0.28. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced 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. The company 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 for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.11 earnings per share. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on LMT shares. 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 note on Wednesday, July 23rd. Cowen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Thursday, July 10th. Bank of America dropped their price objective on Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Thursday, August 21st. TD Cowen reiterated a “hold” rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Finally, Alembic Global Advisors upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently 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.