Cwm LLC lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 200.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,164 shares of the aerospace company’s stock after buying an additional 3,446 shares during the period. Cwm LLC’s holdings in Lockheed Martin were worth $1,787,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Lockheed Martin by 0.7% during the 2nd quarter. BlackRock Inc. now owns 17,248,707 shares of the aerospace company’s stock worth $5,095,787,000 after acquiring an additional 117,082 shares in the last quarter. Morgan Stanley raised its position in shares of Lockheed Martin by 4.4% during the 2nd quarter. Morgan Stanley now owns 3,481,336 shares of the aerospace company’s stock worth $1,028,490,000 after purchasing an additional 147,745 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Lockheed Martin by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,552,936 shares of the aerospace company’s stock worth $754,213,000 after purchasing an additional 292,851 shares during the last quarter. FMR LLC raised its position in shares of Lockheed Martin by 1.4% during the 2nd quarter. FMR LLC now owns 2,337,478 shares of the aerospace company’s stock worth $690,562,000 after purchasing an additional 32,879 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Lockheed Martin by 2.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,598,709 shares of the aerospace company’s stock worth $472,307,000 after purchasing an additional 42,089 shares during the last quarter. 77.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of LMT opened at $299.28 on Friday. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91. The firm has a market capitalization of $83.58 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 2.08 and a beta of 0.89. Lockheed Martin Co. has a fifty-two week low of $283.21 and a fifty-two week high of $363.00.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.31 by $0.83. The company had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. Lockheed Martin’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.24 EPS. On average, analysts forecast that Lockheed Martin Co. will post 17.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be issued a $2.20 dividend. The ex-dividend date is Friday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 annualized dividend and a yield of 2.94%. Lockheed Martin’s payout ratio is 60.02%.
Lockheed Martin declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
LMT has been the subject of several research reports. Credit Suisse Group lifted their price objective on Lockheed Martin from $355.00 to $340.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Goldman Sachs Group upgraded Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and lifted their price objective for the stock from $391.00 to $394.00 in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Morgan Stanley set a $386.00 price objective on Lockheed Martin and gave the stock a “buy” rating in a research report on Thursday, October 11th. Finally, Bank of America lifted their price objective on Lockheed Martin from $400.00 to $412.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $376.49.
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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