Carillon Tower Advisers Inc. lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,968 shares of the aerospace company’s stock after selling 1,285 shares during the quarter. Carillon Tower Advisers Inc.’s holdings in Lockheed Martin were worth $22,130,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Canton Hathaway LLC bought a new position in shares of Lockheed Martin in the 3rd quarter valued at about $104,000. FTB Advisors Inc. boosted its stake in shares of Lockheed Martin by 142.6% in the 2nd quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock valued at $105,000 after purchasing an additional 211 shares during the last quarter. Fort L.P. bought a new position in Lockheed Martin during the 2nd quarter worth approximately $116,000. Quad Cities Investment Group LLC bought a new position in Lockheed Martin during the 2nd quarter worth approximately $131,000. Finally, Whitener Capital Management Inc. bought a new position in Lockheed Martin during the 3rd quarter worth approximately $169,000. 77.97% of the stock is currently owned by institutional investors.
Shares of LMT opened at $302.42 on Friday. 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 Co. has a twelve month low of $283.21 and a twelve month high of $363.00. The company has a market capitalization of $83.99 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.78 and a beta of 0.89.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share 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 firm had revenue of $14.32 billion for the quarter, compared to analyst estimates of $13.10 billion. During the same quarter in the previous year, the firm posted $3.24 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. Analysts anticipate that Lockheed Martin Co. will post 17.71 earnings per share for the current year.
Lockheed Martin declared that its Board of Directors has authorized 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 buy up to 1% of its shares through open market purchases. Shares repurchase plans are usually an indication 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. Shareholders of record on Monday, December 3rd will be paid a $2.20 dividend. The ex-dividend date is Friday, November 30th. This represents a $8.80 dividend on an annualized basis and a yield of 2.91%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s payout ratio is presently 60.02%.
In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of Lockheed Martin stock in a transaction that occurred on 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 of the company’s stock, valued at $24,608,247.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.
Several research analysts recently weighed in on the stock. Credit Suisse Group lifted 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. Zacks Investment Research lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. 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. Goldman Sachs Group raised shares of Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and lifted their price objective for the stock from $391.00 to $394.00 in a research note on Wednesday, October 24th. Finally, JPMorgan Chase & Co. reduced 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. 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 company. The stock has a consensus rating of “Buy” and a consensus target price of $375.44.
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About Lockheed Martin
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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