Gulf International Bank UK Ltd lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,671 shares of the aerospace company’s stock after buying an additional 1,438 shares during the period. Gulf International Bank UK Ltd’s holdings in Lockheed Martin were worth $7,497,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Polaris Greystone Financial Group LLC raised its holdings in shares of Lockheed Martin by 22.6% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 867 shares of the aerospace company’s stock worth $300,000 after purchasing an additional 160 shares during the period. Franklin Street Advisors Inc. NC raised its holdings in shares of Lockheed Martin by 0.6% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 26,660 shares of the aerospace company’s stock worth $7,876,000 after purchasing an additional 168 shares during the period. OLD National Bancorp IN raised its holdings in shares of Lockheed Martin by 1.4% in the 2nd quarter. OLD National Bancorp IN now owns 12,154 shares of the aerospace company’s stock worth $3,591,000 after purchasing an additional 170 shares during the period. Summit Financial Strategies Inc. raised its holdings in shares of Lockheed Martin by 19.4% in the 2nd quarter. Summit Financial Strategies Inc. now owns 1,046 shares of the aerospace company’s stock worth $309,000 after purchasing an additional 170 shares during the period. Finally, Arthur M. Cohen & Associates LLC raised its holdings in shares of Lockheed Martin by 4.5% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 3,977 shares of the aerospace company’s stock worth $1,376,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 78.02% of the company’s stock.
LMT has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Morgan Stanley set a $386.00 price target on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Cowen raised shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price target on the stock in a report on Wednesday, July 25th. Finally, Credit Suisse Group lifted their price target on shares of Lockheed Martin from $340.00 to $368.00 and gave the stock a “neutral” rating in a report on Wednesday, October 3rd. Nine investment 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. Lockheed Martin presently has a consensus rating of “Buy” and a consensus target price of $376.49.
In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the sale, the vice president now owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.
Shares of LMT stock opened at $313.12 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46. Lockheed Martin Co. has a 1 year low of $283.21 and a 1 year high of $363.00. The firm has a market cap of $88.12 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.19 and a beta of 0.89.
Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $13.10 billion. During the same quarter in the previous year, the firm posted $3.24 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts expect that Lockheed Martin Co. will post 17.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be issued a dividend of $2.20 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. 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 2.81%. Lockheed Martin’s payout ratio is presently 60.02%.
Lockheed Martin declared that its board has authorized a stock repurchase program on Thursday, September 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is 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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