Pinnacle Associates Ltd. Has $13.81 Million Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Pinnacle Associates Ltd. raised its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,903 shares of the aerospace company's stock after purchasing an additional 840 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Lockheed Martin were worth $13,805,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LMT. Eagle Capital Management LLC raised its holdings in shares of Lockheed Martin by 0.3% in the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after purchasing an additional 32 shares during the period. Brighton Jones LLC raised its holdings in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after buying an additional 191 shares during the period. Hudson Portfolio Management LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at about $256,000. Congress Wealth Management LLC DE raised its holdings in shares of Lockheed Martin by 35.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 9,989 shares of the aerospace company's stock valued at $4,854,000 after buying an additional 2,597 shares during the period. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at about $118,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped 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. TD Cowen reiterated a "hold" rating and set a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Jefferies Financial Group dropped their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Finally, Susquehanna dropped their price objective on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $1.38 during mid-day trading on Thursday, hitting $420.77. The company's stock had a trading volume of 3,080,385 shares, compared to its average volume of 1,748,580. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The stock has a market capitalization of $98.23 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.83 and a beta of 0.28. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The stock's fifty day moving average price is $466.72 and its two-hundred day moving average price is $463.00.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the prior year, the business posted $7.11 earnings per share. Lockheed Martin's revenue was up .2% compared to the same quarter last year. Research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is 57.02%.

Lockheed Martin Company 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.