Pinnacle Financial Partners Inc. trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,772 shares of the aerospace company’s stock after selling 4,452 shares during the period. Lockheed Martin makes up about 1.0% of Pinnacle Financial Partners Inc.’s investment portfolio, making the stock its 22nd biggest position. Pinnacle Financial Partners Inc.’s holdings in Lockheed Martin were worth $19,477,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Lockheed Martin by 1.4% in the third quarter. BlackRock Inc. now owns 17,216,150 shares of the aerospace company’s stock valued at $6,598,608,000 after purchasing an additional 230,570 shares in the last quarter. FMR LLC lifted its holdings in Lockheed Martin by 42.0% during the 2nd quarter. FMR LLC now owns 3,368,655 shares of the aerospace company’s stock worth $1,229,291,000 after buying an additional 995,998 shares in the last quarter. Morgan Stanley boosted its position in Lockheed Martin by 8.7% in the 3rd quarter. Morgan Stanley now owns 3,110,828 shares of the aerospace company’s stock valued at $1,192,319,000 after buying an additional 249,683 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Lockheed Martin by 0.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,846,261 shares of the aerospace company’s stock valued at $1,090,916,000 after buying an additional 17,669 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Lockheed Martin by 2.2% during the third quarter. California Public Employees Retirement System now owns 1,252,966 shares of the aerospace company’s stock worth $480,237,000 after acquiring an additional 27,388 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Lockheed Martin from $405.00 to $414.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 21st. Morgan Stanley cut their price objective on shares of Lockheed Martin from $509.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday, January 7th. Robert W. Baird lowered shares of Lockheed Martin from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $420.00 to $368.00 in a report on Thursday, January 7th. ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Wednesday, October 21st. Finally, Credit Suisse Group upped their price objective on Lockheed Martin from $400.00 to $409.00 in a report on Tuesday, December 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $445.00.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 20th. The aerospace company reported $6.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.07 by $0.18. Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The company had revenue of $16.50 billion during the quarter, compared to the consensus estimate of $16.14 billion. During the same quarter in the prior year, the firm earned $5.66 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. Research analysts predict that Lockheed Martin Co. will post 24.82 earnings per share for the current fiscal year.
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, Rotary and Mission Systems, and Space Systems.
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