Sumitomo Mitsui Trust Group Inc. Raises Stock Position in Intuitive Machines, Inc. $LUNR

Key Points

• Sumitomo Mitsui Trust Group increased its stake in Intuitive Machines by 36.4% in Q3, buying 129,896 shares to hold 486,752 shares (about 0.27% of the company) valued at $5.12 million.
• Analysts' consensus is a "Moderate Buy" with an average target price of $17, and several firms recently raised targets into the $20–$22.50 range.
• Insiders have been active sellers — selling 2,868,329 shares worth about $46.25 million over the past 90 days (including CEO and SVP sales on Jan 8) — though insiders still own roughly 39.75% of the company.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Free Report) by 36.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,752 shares of the company's stock after purchasing an additional 129,896 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Intuitive Machines worth $5,121,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LUNR. Golden State Wealth Management LLC grew its position in shares of Intuitive Machines by 180.0% during the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company's stock worth $30,000 after buying an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Intuitive Machines by 35.6% in the second quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company's stock valued at $47,000 after buying an additional 1,127 shares during the last quarter. Founders Financial Securities LLC acquired a new position in shares of Intuitive Machines in the 3rd quarter valued at $117,000. Invesco Ltd. increased its position in Intuitive Machines by 19.7% in the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company's stock valued at $120,000 after acquiring an additional 2,643 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in Intuitive Machines by 166.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,174 shares of the company's stock valued at $121,000 after buying an additional 6,985 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LUNR shares. B. Riley lifted their price target on shares of Intuitive Machines from $14.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, December 22nd. Cantor Fitzgerald restated an "overweight" rating on shares of Intuitive Machines in a report on Wednesday, December 3rd. KeyCorp assumed coverage on Intuitive Machines in a research report on Thursday, December 18th. They set an "overweight" rating and a $20.00 price target on the stock. Stifel Nicolaus set a $20.00 target price on Intuitive Machines and gave the company a "hold" rating in a research note on Friday, January 9th. Finally, Canaccord Genuity Group lifted their target price on Intuitive Machines from $15.50 to $22.50 and gave the company a "buy" rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $17.00.

Intuitive Machines Stock Up 10.7%

Shares of LUNR opened at $21.58 on Friday. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of -8.74 and a beta of 1.37. Intuitive Machines, Inc. has a 12-month low of $6.14 and a 12-month high of $24.95. The stock's 50-day moving average price is $13.21 and its 200 day moving average price is $11.54.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 5,660 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $20.00, for a total value of $113,200.00. Following the transaction, the senior vice president directly owned 298,435 shares in the company, valued at approximately $5,968,700. This trade represents a 1.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Altemus sold 12,669 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $20.00, for a total transaction of $253,380.00. Following the completion of the sale, the chief executive officer owned 1,026,402 shares in the company, valued at approximately $20,528,040. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,868,329 shares of company stock worth $46,252,754. 39.75% of the stock is owned by corporate insiders.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.

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