PNC Financial Services Group Inc. Sells 7,290 Shares of Lockheed Martin Co. (NYSE:LMT)

PNC Financial Services Group Inc. lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 455,376 shares of the aerospace company’s stock after selling 7,290 shares during the period. PNC Financial Services Group Inc.’s holdings in Lockheed Martin were worth $266,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter worth $27,000. Sachetta LLC raised its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC lifted its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Stephens Consulting LLC boosted its stake in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC bought a new position in Lockheed Martin in the third quarter valued at about $32,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.7 %

LMT opened at $530.96 on Tuesday. The company has a market cap of $125.86 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49. The company has a fifty day moving average price of $575.61 and a two-hundred day moving average price of $525.71. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.49%. Lockheed Martin’s payout ratio is presently 45.62%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research analyst reports. Susquehanna reduced their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird increased their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Citigroup increased their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $611.00.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.