PNC Financial Services Group Inc. Acquires 22,043 Shares of Lockheed Martin Corporation $LMT

Key Points

• PNC Financial Services Group increased its stake in Lockheed Martin by 4.4% in the first quarter, buying 22,043 more shares and bringing its total holding to 522,616 shares worth about $315.9 million.
• Lockheed Martin is benefiting from major defense-related developments, including a $10.5 billion, 12-year U.S. Special Operations Command contract and the rollout of a cheaper Patriot interceptor aimed at meeting rising global air-defense demand.
• The company recently missed quarterly earnings and revenue estimates, but it still pays a solid dividend of $3.45 per share quarterly for a 2.7% annual yield; analysts currently rate the stock a cautious “Hold” on average.

PNC Financial Services Group Inc. boosted its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 522,616 shares of the aerospace company's stock after buying an additional 22,043 shares during the period. PNC Financial Services Group Inc. owned 0.23% of Lockheed Martin worth $315,864,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerro Pacific Wealth Advisors LLC lifted its stake in shares of Lockheed Martin by 1.2% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 1,376 shares of the aerospace company's stock worth $665,000 after purchasing an additional 16 shares during the last quarter. Garner Asset Management Corp grew its stake in Lockheed Martin by 0.9% in the fourth quarter. Garner Asset Management Corp now owns 1,735 shares of the aerospace company's stock valued at $839,000 after purchasing an additional 16 shares during the last quarter. Davis R M Inc. grew its stake in Lockheed Martin by 1.3% in the fourth quarter. Davis R M Inc. now owns 1,264 shares of the aerospace company's stock valued at $612,000 after purchasing an additional 16 shares during the last quarter. Broadway Wealth Solutions Inc. raised its holdings in Lockheed Martin by 3.6% in the fourth quarter. Broadway Wealth Solutions Inc. now owns 484 shares of the aerospace company's stock worth $234,000 after purchasing an additional 17 shares in the last quarter. Finally, Aspire Growth Partners LLC lifted its position in shares of Lockheed Martin by 0.7% during the fourth quarter. Aspire Growth Partners LLC now owns 2,515 shares of the aerospace company's stock valued at $1,217,000 after buying an additional 17 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Trending Headlines about Lockheed Martin

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Lockheed Martin secured a $10.5 billion, 12-year U.S. Special Operations Command logistics and sustainment contract for its GLSS2 program, reinforcing its long-term backlog and supporting the investment case for the shares. Is Lockheed Martin (LMT) Undervalued On Its $10.5b GLSS2 Contract Win?
• Positive Sentiment: The company also unveiled PAC-3 ACE, a lower-cost Patriot interceptor priced at less than half of the current PAC-3 MSE, which could help Lockheed stay competitive as demand for air defenses rises globally. Lockheed to make cheaper Patriot interceptors as air defense demand soars
• Positive Sentiment: Lockheed Martin also announced new defense-tech collaborations, including work with Venus Aerospace on next-generation propulsion, which highlights continued investment in future weapons and space capabilities. Lockheed Martin and Venus Aerospace Collaborate to Advance Next-Generation Propulsion for Long-Range Precision Fires

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $506.23 on Wednesday. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $692.00. The company has a market cap of $116.72 billion, a PE ratio of 24.51, a P/E/G ratio of 0.91 and a beta of 0.11. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.94 and a current ratio of 1.14. The business has a 50-day simple moving average of $521.59 and a two-hundred day simple moving average of $572.42.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The aerospace company reported $6.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.79 by ($0.35). The company had revenue of $18.02 billion for the quarter, compared to analyst estimates of $18.38 billion. Lockheed Martin had a net margin of 6.38% and a return on equity of 101.64%. The business's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $7.28 EPS. Lockheed Martin has set its FY 2026 guidance at 29.350-30.250 EPS. As a group, equities analysts expect that Lockheed Martin Corporation will post 29.94 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 1st were paid a dividend of $3.45 per share. The ex-dividend date was Monday, June 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.7%. Lockheed Martin's dividend payout ratio is presently 66.83%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LMT. Wells Fargo & Company set a $575.00 price target on shares of Lockheed Martin in a report on Wednesday, July 8th. BNP Paribas Exane reduced their price objective on shares of Lockheed Martin from $770.00 to $680.00 and set an "outperform" rating for the company in a research note on Friday, April 24th. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Susquehanna lowered their target price on shares of Lockheed Martin from $740.00 to $700.00 and set a "positive" rating for the company in a research note on Friday, April 24th. Finally, Jefferies Financial Group set a $575.00 price target on shares of Lockheed Martin in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $615.78.

Lockheed Martin Company Profile

Lockheed Martin Corporation NYSE: LMT is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin's product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

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