PNC Financial Services Group Inc. Sells 12,605 Shares of Lockheed Martin Co. (NYSE:LMT)

PNC Financial Services Group Inc. lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 771,827 shares of the aerospace company’s stock after selling 12,605 shares during the period. PNC Financial Services Group Inc. owned about 0.28% of Lockheed Martin worth $281,656,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Advisor OS LLC bought a new position in Lockheed Martin in the second quarter worth approximately $410,000. AdvisorNet Financial Inc increased its position in shares of Lockheed Martin by 1.3% during the second quarter. AdvisorNet Financial Inc now owns 16,812 shares of the aerospace company’s stock worth $6,135,000 after purchasing an additional 209 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Lockheed Martin by 10.0% during the second quarter. Quadrature Capital Ltd now owns 2,200 shares of the aerospace company’s stock valued at $803,000 after buying an additional 200 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd boosted its holdings in Lockheed Martin by 4.9% in the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 5,680 shares of the aerospace company’s stock valued at $2,072,000 after purchasing an additional 265 shares during the last quarter. Finally, Strategic Wealth Management Inc. purchased a new stake in Lockheed Martin in the second quarter valued at $438,000. 77.56% of the stock is owned by hedge funds and other institutional investors.

LMT stock traded down $1.20 during mid-day trading on Tuesday, reaching $392.55. The company’s stock had a trading volume of 955,517 shares, compared to its average volume of 1,538,761. The stock has a market cap of $110.07 billion, a PE ratio of 17.08, a P/E/G ratio of 2.29 and a beta of 0.93. The company has a current ratio of 1.31, a quick ratio of 1.08 and a debt-to-equity ratio of 3.22. Lockheed Martin Co. has a fifty-two week low of $266.11 and a fifty-two week high of $442.53. The company’s 50 day moving average is $387.67 and its two-hundred day moving average is $372.69.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $5.79 EPS for the quarter, beating the Zacks’ consensus estimate of $5.72 by $0.07. The company had revenue of $16.22 billion during the quarter, compared to the consensus estimate of $15.19 billion. Lockheed Martin had a net margin of 10.25% and a return on equity of 182.05%. Lockheed Martin’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.00 EPS. On average, analysts forecast that Lockheed Martin Co. will post 24.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be paid a $2.40 dividend. The ex-dividend date is Monday, August 31st. This represents a $9.60 annualized dividend and a dividend yield of 2.45%. Lockheed Martin’s dividend payout ratio (DPR) is 43.74%.

Several research firms have commented on LMT. ValuEngine raised shares of Lockheed Martin from a “sell” rating to a “hold” rating in a report on Wednesday, August 26th. UBS Group lowered their target price on shares of Lockheed Martin from $482.00 to $475.00 and set a “buy” rating on the stock in a research note on Thursday, June 11th. Robert W. Baird increased their target price on shares of Lockheed Martin from $371.00 to $453.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Argus increased their target price on shares of Lockheed Martin from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Morgan Stanley started coverage on shares of Lockheed Martin in a research note on Tuesday, September 8th. They set an “overweight” rating and a $509.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Lockheed Martin presently has a consensus rating of “Buy” and a consensus target price of $448.33.

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. 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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