PNC Financial Services Group Inc. decreased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 435,902 shares of the aerospace company's stock after selling 9,295 shares during the period. PNC Financial Services Group Inc. owned 0.19% of Lockheed Martin worth $194,722,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in LMT. TruNorth Capital Management LLC acquired a new position in Lockheed Martin in the first quarter worth approximately $31,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter worth approximately $35,000. Redwood Park Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter worth approximately $40,000. Banque Transatlantique SA acquired a new position in Lockheed Martin in the fourth quarter worth approximately $43,000. Finally, EQ Wealth Advisors LLC acquired a new position in Lockheed Martin in the first quarter worth approximately $43,000. Institutional investors and hedge funds own 74.19% of the company's stock.
Lockheed Martin Trading Down 0.0%
Shares of NYSE:LMT opened at $420.97 on Friday. The firm has a fifty day moving average of $460.68 and a two-hundred day moving average of $460.84. The firm has a market capitalization of $98.28 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.27. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.
Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (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 net margin of 5.85% and a return on equity of 107.60%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $7.11 EPS. On average, equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.
Lockheed Martin Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's payout ratio is presently 74.32%.
Analyst Upgrades and Downgrades
LMT has been the topic of several recent research reports. Robert W. Baird decreased their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Royal Bank Of Canada lowered their price objective on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 23rd. Finally, Cowen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Fifteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $506.65.
View Our Latest Stock Report on LMT
Lockheed Martin Profile
(
Free Report)
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.
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