PNC Financial Services Group Inc. Has $186.49 Million Stake in Lockheed Martin Co. (NYSE:LMT)

PNC Financial Services Group Inc. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.1% in the 1st quarter, HoldingsChannel reports. The fund owned 621,292 shares of the aerospace company’s stock after buying an additional 483 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lockheed Martin were worth $186,485,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Psagot Investment House Ltd. raised its stake in shares of Lockheed Martin by 2.7% during the 1st quarter. Psagot Investment House Ltd. now owns 1,164 shares of the aerospace company’s stock worth $349,000 after buying an additional 31 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of Lockheed Martin by 4.0% during the 1st quarter. Ballentine Partners LLC now owns 833 shares of the aerospace company’s stock worth $250,000 after buying an additional 32 shares in the last quarter. Capital Investment Advisory Services LLC raised its stake in shares of Lockheed Martin by 2.7% during the 1st quarter. Capital Investment Advisory Services LLC now owns 1,288 shares of the aerospace company’s stock worth $387,000 after buying an additional 34 shares in the last quarter. Belpointe Asset Management LLC raised its stake in shares of Lockheed Martin by 1.4% during the 4th quarter. Belpointe Asset Management LLC now owns 2,583 shares of the aerospace company’s stock worth $676,000 after buying an additional 35 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Lockheed Martin by 1.4% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,832 shares of the aerospace company’s stock worth $742,000 after buying an additional 38 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on LMT shares. Morgan Stanley increased their target price on Lockheed Martin from $300.00 to $324.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 13th. ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Cowen reissued a “buy” rating and set a $360.00 target price on shares of Lockheed Martin in a research note on Wednesday, April 24th. Bank of America reissued a “buy” rating and set a $400.00 target price (up from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. Finally, Robert W. Baird raised their price objective on Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $355.13.

NYSE LMT opened at $345.51 on Thursday. Lockheed Martin Co. has a 1-year low of $241.18 and a 1-year high of $358.63. The company has a market capitalization of $97.20 billion, a P/E ratio of 19.36, a PEG ratio of 2.39 and a beta of 0.96. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 5.00.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $4.29 by $1.70. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The firm had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $12.48 billion. During the same period last year, the business posted $4.02 EPS. Lockheed Martin’s quarterly revenue was up 23.2% on a year-over-year basis. On average, equities research analysts expect that Lockheed Martin Co. will post 20.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Friday, May 31st. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.

In other Lockheed Martin news, Director David B. Burritt sold 2,100 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total transaction of $693,441.00. Following the sale, the director now owns 6,030 shares in the company, valued at approximately $1,991,166.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

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About Lockheed Martin

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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