Taylor Hoffman Wealth Management increased its stake in Lockheed Martin Co. (NYSE:LMT) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,206 shares of the aerospace company’s stock after purchasing an additional 66 shares during the period. Taylor Hoffman Wealth Management’s holdings in Lockheed Martin were worth $860,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. Krane Funds Advisors LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth about $26,000. Paragon Capital Management LLC boosted its stake in shares of Lockheed Martin by 406.7% during the 2nd 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. boosted its stake in shares of Lockheed Martin by 257.1% during the 3rd 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. KCS Wealth Advisory acquired a new position in shares of Lockheed Martin during the 3rd quarter worth about $37,000. Finally, MRA Associates USA LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth about $38,000. 78.57% of the stock is owned by hedge funds and other institutional investors.
Shares of LMT traded up $3.11 during mid-day trading on Friday, hitting $381.86. 772,430 shares of the company’s stock were exchanged, compared to its average volume of 1,168,903. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $399.96. The stock’s 50-day simple moving average is $380.57 and its 200-day simple moving average is $364.83. The firm has a market cap of $105.39 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.95. The company has a quick ratio of 1.05, a current ratio of 1.28 and a debt-to-equity ratio of 3.21.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.02 by $0.64. The business had revenue of $15.17 billion for the quarter, compared to analyst estimates of $14.87 billion. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $5.14 EPS. Analysts forecast that Lockheed Martin Co. will post 21.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $2.40 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date is Friday, November 29th. This represents a $9.60 annualized dividend and a dividend yield of 2.51%. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.
Lockheed Martin announced that its board has initiated a stock buyback program on Thursday, September 26th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
LMT has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective 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. Credit Suisse Group dropped their target price on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. ValuEngine cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Barclays reaffirmed a “hold” rating and issued a $410.00 target price on shares of Lockheed Martin in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average 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.
Further Reading: Bid-Ask Spread
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