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M&T Bank Corp Cuts Stake in Lockheed Martin Corporation $LMT
M&T Bank Corp significantly reduced its stake in Lockheed Martin (LMT) by 43% in Q4, selling over 77,000 shares and ending with holdings valued at approximately $49.57 million. Despite Lockheed Martin missing Q4 EPS estimates, its revenue increased by 9.1% year-over-year, and the company benefited from recent contract awards and a successful satellite launch. Analysts, however, maintain a mixed outlook, with a consensus “Hold” rating and an average price target of $646.16.