CIBC Private Wealth Group LLC lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,580 shares of the aerospace company’s stock after buying an additional 2,228 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Lockheed Martin were worth $12,317,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Virginia National Bank bought a new position in shares of Lockheed Martin in the third quarter valued at $207,000. Campbell & CO Investment Adviser LLC bought a new stake in Lockheed Martin in the third quarter worth about $335,000. Harwood Advisory Group LLC raised its position in Lockheed Martin by 2.7% in the third quarter. Harwood Advisory Group LLC now owns 7,314 shares of the aerospace company’s stock worth $2,853,000 after acquiring an additional 190 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Lockheed Martin by 111.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,663 shares of the aerospace company’s stock worth $15,470,000 after acquiring an additional 20,879 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its position in Lockheed Martin by 5.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,785 shares of the aerospace company’s stock worth $1,086,000 after acquiring an additional 150 shares during the period. Institutional investors own 78.57% of the company’s stock.
LMT stock traded up $3.11 during midday trading on Friday, reaching $381.86. The company had a trading volume of 772,430 shares, compared to its average volume of 1,168,903. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.28 and a quick ratio of 1.05. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $399.96. The company has a market capitalization of $105.39 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.44 and a beta of 0.95. The firm has a 50-day moving average price of $380.57 and a 200-day moving average price of $364.83.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, topping the Zacks’ consensus estimate of $5.02 by $0.64. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The business had revenue of $15.17 billion during the quarter, compared to analysts’ expectations of $14.87 billion. During the same quarter in the previous year, the company earned $5.14 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts predict that Lockheed Martin Co. will post 21.57 EPS for the current year.
Lockheed Martin announced that its board has approved a share buyback plan on Thursday, September 26th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, November 29th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s payout ratio is currently 49.30%.
Several equities analysts have recently weighed in on the stock. Barclays reiterated a “hold” rating and issued a $410.00 target price on shares of Lockheed Martin in a research note on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Buckingham Research lifted their target price on shares of Lockheed Martin from $405.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Finally, Credit Suisse Group reduced their target price on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $371.79.
Lockheed Martin 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 (MFC), Rotary and Mission Systems (RMS), and Space.
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