NEXT Financial Group Inc increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 34.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,773 shares of the aerospace company’s stock after buying an additional 1,215 shares during the period. NEXT Financial Group Inc’s holdings in Lockheed Martin were worth $1,862,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of LMT. Krane Funds Advisors LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth approximately $26,000. Paragon Capital Management LLC increased its holdings in Lockheed Martin by 406.7% during the second quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after buying an additional 61 shares during the last quarter. Accurate Investment Solutions Inc. increased its holdings in Lockheed Martin by 257.1% during the third quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock worth $29,000 after buying an additional 54 shares during the last quarter. MRA Associates USA LLC acquired a new position in Lockheed Martin during the second quarter worth $38,000. Finally, Trustcore Financial Services LLC boosted its position in Lockheed Martin by 245.5% during the second quarter. Trustcore Financial Services LLC now owns 114 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 81 shares during the period. 78.57% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Barclays restated a “hold” rating and set a $410.00 price target on shares of Lockheed Martin in a report on Wednesday, October 9th. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Morgan Stanley cut their target price on 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. Credit Suisse Group reduced their target price on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $371.79.
Shares of NYSE:LMT traded up $3.11 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 current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $105.39 billion, a PE ratio of 21.39, a PEG ratio of 2.44 and a beta of 0.95. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $399.96. The firm’s 50 day simple moving average is $380.57 and its 200-day simple moving average is $364.83.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.02 by $0.64. The firm had revenue of $15.17 billion during the quarter, compared to analysts’ expectations of $14.87 billion. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.14 EPS. As a group, equities research analysts predict that Lockheed Martin Co. will post 21.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $2.40 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, November 29th. Lockheed Martin’s payout ratio is 49.30%.
Lockheed Martin declared that its Board of Directors has authorized a stock buyback program on Thursday, September 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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