Robeco Institutional Asset Management B.V. boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,148 shares of the aerospace company’s stock after buying an additional 9,517 shares during the period. Robeco Institutional Asset Management B.V. owned 0.10% of Lockheed Martin worth $101,419,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of LMT. Charles Schwab Investment Advisory Inc. acquired a new stake in Lockheed Martin in the second quarter worth $240,085,000. American Century Companies Inc. increased its holdings in shares of Lockheed Martin by 121.4% during the second quarter. American Century Companies Inc. now owns 1,275,669 shares of the aerospace company’s stock valued at $376,871,000 after purchasing an additional 699,579 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Lockheed Martin by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,552,936 shares of the aerospace company’s stock valued at $754,213,000 after purchasing an additional 292,851 shares during the period. Mainstay Capital Management LLC ADV increased its holdings in shares of Lockheed Martin by 25,999.4% during the second quarter. Mainstay Capital Management LLC ADV now owns 223,150 shares of the aerospace company’s stock valued at $785,000 after purchasing an additional 222,295 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Lockheed Martin by 19.2% during the second quarter. Janus Henderson Group PLC now owns 1,220,060 shares of the aerospace company’s stock valued at $360,453,000 after purchasing an additional 196,432 shares during the period. 78.02% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Bruce L. Tanner sold 11,203 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the completion of the transaction, the vice president now owns 79,770 shares of the company’s stock, valued at $24,608,247.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.35% of the company’s stock.
A number of brokerages have recently commented on LMT. Sanford C. Bernstein raised their price target on Lockheed Martin from $349.00 to $356.00 and gave the company a “market perform” rating in a report on Wednesday, July 25th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $366.00 price target on the stock in a report on Wednesday, October 24th. Berenberg Bank raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Credit Suisse Group raised their price target on Lockheed Martin from $355.00 to $340.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Finally, Stifel Nicolaus lowered their price target on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $376.49.
Shares of LMT stock opened at $313.12 on Friday. Lockheed Martin Co. has a fifty-two week low of $283.21 and a fifty-two week high of $363.00. The stock has a market cap of $88.12 billion, a P/E ratio of 17.43, a PEG ratio of 2.19 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 13.46.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.31 by $0.83. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The business had revenue of $14.32 billion during the quarter, compared to analysts’ expectations of $13.10 billion. During the same quarter last year, the business posted $3.24 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts predict that Lockheed Martin Co. will post 17.68 EPS for the current fiscal year.
Lockheed Martin declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be paid a dividend of $2.20 per share. The ex-dividend date is Friday, November 30th. This represents a $8.80 annualized dividend and a yield of 2.81%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio (DPR) is currently 60.02%.
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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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