Pinnacle Financial Partners Inc Sells 8,788 Shares of Lockheed Martin Co. (NYSE:LMT)

Pinnacle Financial Partners Inc trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,395 shares of the aerospace company’s stock after selling 8,788 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Lockheed Martin were worth $26,269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the 3rd quarter worth $26,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter valued at $35,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the third quarter valued at about $40,000. Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at about $42,000. Finally, Vestor Capital LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at about $46,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Wells Fargo & Company lowered their price target on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Morgan Stanley decreased their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup decreased their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Trading Up 1.1 %

Lockheed Martin stock opened at $441.20 on Friday. The firm’s 50-day moving average is $469.94 and its 200-day moving average is $528.97. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a market cap of $103.86 billion, a P/E ratio of 19.82, a PEG ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.99%. Lockheed Martin’s dividend payout ratio is 59.30%.

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.