PNC Financial Services Group Inc. Increases Stock Holdings in Lockheed Martin Corporation $LMT

PNC Financial Services Group Inc. grew its holdings in Lockheed Martin Corporation (NYSE:LMT) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 480,393 shares of the aerospace company’s stock after purchasing an additional 44,491 shares during the quarter. PNC Financial Services Group Inc. owned 0.21% of Lockheed Martin worth $222,489,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. acquired a new position in Lockheed Martin during the 2nd quarter worth $28,000. Frazier Financial Advisors LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $34,000. GFG Capital LLC purchased a new position in Lockheed Martin in the 2nd quarter valued at $43,000. Bernard Wealth Management Corp. increased its position in Lockheed Martin by 251.9% during the 2nd quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 68 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new stake in shares of Lockheed Martin in the first quarter valued at about $45,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of LMT stock opened at $457.02 on Wednesday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.97 and a current ratio of 1.13. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $576.43. The firm’s 50 day moving average price is $484.01 and its two-hundred day moving average price is $467.33. The stock has a market cap of $105.75 billion, a PE ratio of 25.52, a PEG ratio of 1.69 and a beta of 0.25.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping the consensus estimate of $6.33 by $0.62. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The business had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.45 billion. During the same quarter last year, the business posted $6.84 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. As a group, analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio is 77.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LMT shares. Deutsche Bank Aktiengesellschaft set a $519.00 target price on Lockheed Martin and gave the company a “hold” rating in a research note on Wednesday, October 8th. Robert W. Baird increased their target price on Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Susquehanna raised their price target on shares of Lockheed Martin from $490.00 to $590.00 and gave the company a “positive” rating in a research note on Thursday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday, October 8th. Finally, Alembic Global Advisors raised Lockheed Martin from a “neutral” rating to an “overweight” rating in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $513.47.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total value of $3,826,183.68. Following the completion of the sale, the chief operating officer owned 1 shares in the company, valued at $491.04. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

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