Fifth Third Bancorp Has $42.55 Million Position in Lockheed Martin Co. (NYSE:LMT)

Fifth Third Bancorp trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 87,552 shares of the aerospace company’s stock after selling 1,707 shares during the period. Fifth Third Bancorp’s holdings in Lockheed Martin were worth $42,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its position in Lockheed Martin by 110.2% during the second quarter. Public Sector Pension Investment Board now owns 7,847 shares of the aerospace company’s stock valued at $3,665,000 after acquiring an additional 4,114 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at about $300,000. Dark Forest Capital Management LP increased its holdings in Lockheed Martin by 56.1% in the second quarter. Dark Forest Capital Management LP now owns 1,044 shares of the aerospace company’s stock worth $488,000 after purchasing an additional 375 shares in the last quarter. MBB Public Markets I LLC lifted its stake in Lockheed Martin by 2,674.4% in the second quarter. MBB Public Markets I LLC now owns 15,398 shares of the aerospace company’s stock valued at $7,192,000 after buying an additional 14,843 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Lockheed Martin by 1.3% during the 2nd quarter. Mackenzie Financial Corp now owns 125,730 shares of the aerospace company’s stock worth $58,728,000 after buying an additional 1,654 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LMT. Barclays lowered their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. UBS Group boosted their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Stock Down 0.1 %

LMT stock opened at $496.96 on Friday. The stock has a market cap of $117.80 billion, a P/E ratio of 17.99, a P/E/G ratio of 4.05 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock’s fifty day simple moving average is $500.00 and its two-hundred day simple moving average is $535.98. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

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

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.