Advisory Services Network LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,742 shares of the aerospace company’s stock after selling 188 shares during the quarter. Advisory Services Network LLC’s holdings in Lockheed Martin were worth $5,793,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of LMT. Canton Hathaway LLC purchased a new position in shares of Lockheed Martin during the third quarter worth approximately $104,000. FTB Advisors Inc. increased its position in shares of Lockheed Martin by 142.6% during the second quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock worth $105,000 after acquiring an additional 211 shares during the period. Fort L.P. purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $116,000. FNY Investment Advisers LLC purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $117,000. Finally, Quad Cities Investment Group LLC purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $131,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. Sanford C. Bernstein raised their target price on shares of Lockheed Martin from $349.00 to $356.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 25th. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $366.00 target price on the stock in a research report on Wednesday, October 24th. Berenberg Bank raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Credit Suisse Group dropped their price objective on shares of Lockheed Martin from $368.00 to $357.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Finally, Stifel Nicolaus dropped their price objective on shares of Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $376.49.
NYSE LMT opened at $303.21 on Tuesday. The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11. Lockheed Martin Co. has a 52-week low of $283.21 and a 52-week high of $363.00. The company has a market cap of $85.12 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The firm had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same period last year, the firm earned $3.24 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Lockheed Martin Co. will post 17.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be paid a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 2.90%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is 60.02%.
Lockheed Martin announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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