Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc trimmed its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,438 shares of the aerospace company's stock after selling 957 shares during the period. Pinnacle Financial Partners Inc's holdings in Lockheed Martin were worth $23,553,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LMT. GAMMA Investing LLC grew its holdings in Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at $526,587,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth $451,985,000. Finally, Capital Research Global Investors purchased a new position in shares of Lockheed Martin in the 4th quarter worth $229,987,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LMT shares. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Wells Fargo & Company decreased their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Royal Bank Of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded down $3.12 during trading on Wednesday, reaching $462.82. The stock had a trading volume of 1,127,121 shares, compared to its average volume of 1,349,818. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a market cap of $108.44 billion, a PE ratio of 19.99, a P/E/G ratio of 1.61 and a beta of 0.28. Lockheed Martin Corporation has a one year low of $418.88 and a one year high of $618.95. The firm's 50 day moving average price is $470.98 and its two-hundred day moving average price is $466.09.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. On average, research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. Lockheed Martin's payout ratio is currently 57.02%.

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.