Bank of Montreal Can boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 655,531 shares of the aerospace company’s stock after acquiring an additional 27,662 shares during the period. Bank of Montreal Can owned about 0.23% of Lockheed Martin worth $226,787,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stokes Capital Advisors LLC raised its position in Lockheed Martin by 4.5% during the third quarter. Stokes Capital Advisors LLC now owns 6,236 shares of the aerospace company’s stock worth $2,157,000 after acquiring an additional 270 shares during the last quarter. Retirement Capital Strategies acquired a new position in Lockheed Martin during the third quarter worth about $201,000. Gradient Investments LLC raised its position in Lockheed Martin by 616.6% during the third quarter. Gradient Investments LLC now owns 30,356 shares of the aerospace company’s stock worth $10,502,000 after acquiring an additional 26,120 shares during the last quarter. Gofen & Glossberg LLC IL raised its position in Lockheed Martin by 11.0% during the third quarter. Gofen & Glossberg LLC IL now owns 60,805 shares of the aerospace company’s stock worth $21,036,000 after acquiring an additional 6,045 shares during the last quarter. Finally, Baxter Bros Inc. raised its position in Lockheed Martin by 16.8% during the third quarter. Baxter Bros Inc. now owns 7,430 shares of the aerospace company’s stock worth $2,570,000 after acquiring an additional 1,067 shares during the last quarter. Institutional investors own 77.84% of the company’s stock.
In related news, SVP Maryanne Lavan sold 7,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total transaction of $2,346,390.00. Following the completion of the transaction, the senior vice president now owns 9,869 shares of the company’s stock, valued at $3,194,003.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marillyn A. Hewson sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $323.68, for a total transaction of $8,092,000.00. Following the transaction, the chairman now directly owns 90,625 shares of the company’s stock, valued at approximately $29,333,500. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
NYSE:LMT opened at $327.62 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.19 and a debt-to-equity ratio of 28.14. The company has a market capitalization of $98.52 billion, a PE ratio of 24.30, a PEG ratio of 2.74 and a beta of 0.71. Lockheed Martin Co. has a 1-year low of $291.52 and a 1-year high of $363.00.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.39. Lockheed Martin had a net margin of 5.00% and a return on equity of 944.31%. The business had revenue of $13.40 billion during the quarter, compared to analyst estimates of $12.72 billion. During the same quarter in the previous year, the business posted $3.23 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 17.21 earnings per share for the current fiscal year.
Lockheed Martin declared that its Board of Directors has approved a stock repurchase program on Thursday, September 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the aerospace company to buy up to 1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is 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 given a dividend of $2.20 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, November 30th. This represents a $8.80 annualized dividend and a yield of 2.69%. Lockheed Martin’s dividend payout ratio is 60.02%.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley set a $386.00 price objective on shares of Lockheed Martin and gave the company a “buy” rating in a research report on Thursday. Credit Suisse Group boosted their price objective on shares of Lockheed Martin from $340.00 to $368.00 and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. UBS Group began coverage on shares of Lockheed Martin in a research report on Wednesday, August 15th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Berenberg Bank raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $377.14.
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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