Rehmann Capital Advisory Group reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,299 shares of the aerospace company’s stock after selling 51 shares during the period. Rehmann Capital Advisory Group’s holdings in Lockheed Martin were worth $1,488,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of LMT. Capital International Investors increased its stake in Lockheed Martin by 47.7% in the 3rd quarter. Capital International Investors now owns 3,465,642 shares of the aerospace company’s stock valued at $1,198,974,000 after buying an additional 1,119,631 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in Lockheed Martin in the 2nd quarter valued at $240,085,000. American Century Companies Inc. increased its stake in Lockheed Martin by 121.4% in the 2nd quarter. American Century Companies Inc. now owns 1,275,669 shares of the aerospace company’s stock valued at $376,871,000 after buying an additional 699,579 shares during the last quarter. FMR LLC increased its stake in Lockheed Martin by 13.7% in the 3rd quarter. FMR LLC now owns 2,656,966 shares of the aerospace company’s stock valued at $919,205,000 after buying an additional 319,488 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Lockheed Martin by 768.9% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 267,942 shares of the aerospace company’s stock valued at $92,697,000 after buying an additional 237,106 shares during the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.
In related news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total value of $3,456,013.47. Following the transaction, the vice president now owns 79,770 shares in the company, valued at approximately $24,608,247.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.35% of the stock is currently owned by corporate insiders.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. UBS Group started coverage on shares of Lockheed Martin in a research note on Wednesday, August 15th. They set a “buy” rating and a $400.00 price objective on the stock. Credit Suisse Group boosted their price objective on shares of Lockheed Martin from $340.00 to $368.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. Finally, Morgan Stanley set a $386.00 price objective on shares of Lockheed Martin and gave the stock a “buy” rating in a research note on Thursday, October 11th. 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 stock currently has an average rating of “Buy” and a consensus price target of $373.13.
LMT traded down $0.06 on Friday, reaching $286.29. The company had a trading volume of 39,720 shares, compared to its average volume of 1,367,594. Lockheed Martin Co. has a fifty-two week low of $277.20 and a fifty-two week high of $363.00. The firm has a market cap of $81.55 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 2.70 and a beta of 0.88. 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 (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 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 business had revenue of $14.32 billion for the quarter, compared to analyst estimates of $13.10 billion. During the same quarter in the prior year, the business earned $3.24 EPS. Lockheed Martin’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Lockheed Martin Co. will post 17.71 earnings per share for the current year.
Lockheed Martin declared that its Board of Directors has approved a share buyback plan on Thursday, September 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be paid a $2.20 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $8.80 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio is 66.02%.
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Lockheed Martin Company 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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