Pinnacle Associates Ltd. Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Pinnacle Associates Ltd. trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,589 shares of the aerospace company’s stock after selling 2,742 shares during the period. Pinnacle Associates Ltd.’s holdings in Lockheed Martin were worth $10,082,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc lifted its position in shares of Lockheed Martin by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 21,266,343 shares of the aerospace company’s stock valued at $7,357,305,000 after buying an additional 199,456 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Lockheed Martin by 77,867.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,152,483 shares of the aerospace company’s stock valued at $81,000 after buying an additional 21,125,353 shares in the last quarter. BlackRock Inc. lifted its position in shares of Lockheed Martin by 8.2% during the 4th quarter. BlackRock Inc. now owns 18,811,944 shares of the aerospace company’s stock valued at $4,925,719,000 after buying an additional 1,426,889 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lockheed Martin by 25.3% during the 4th quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after buying an additional 691,751 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Lockheed Martin by 2.7% during the 4th quarter. FMR LLC now owns 2,727,997 shares of the aerospace company’s stock valued at $714,300,000 after buying an additional 71,031 shares in the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

NYSE LMT opened at $349.08 on Friday. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.96 and a current ratio of 1.17. Lockheed Martin Co. has a 12 month low of $241.18 and a 12 month high of $358.63. The company has a market capitalization of $97.62 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, topping the Zacks’ 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 company had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $12.48 billion. During the same period in the previous year, the firm earned $4.02 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts forecast that Lockheed Martin Co. will post 20.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a $2.20 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $8.80 dividend on an annualized basis and a yield of 2.52%. Lockheed Martin’s dividend payout ratio is presently 49.30%.

In related news, Director David B. Burritt sold 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total value of $693,441.00. Following the transaction, the director now directly owns 6,030 shares of the company’s stock, valued at approximately $1,991,166.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by insiders.

A number of research analysts have recently weighed in on the company. Barclays lifted their price objective on Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Cowen reaffirmed a “buy” rating and set a $360.00 price objective on shares of Lockheed Martin in a research report on Wednesday, April 24th. ValuEngine raised Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price objective on the stock in a research report on Thursday, April 25th. Finally, UBS Group lifted their price objective on Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Lockheed Martin has an average rating of “Buy” and an average target price of $355.13.

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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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