Bridgewater Associates LP lowered its position in Lockheed Martin Co. (NYSE:LMT) by 59.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,034 shares of the aerospace company’s stock after selling 24,841 shares during the period. Bridgewater Associates LP’s holdings in Lockheed Martin were worth $5,893,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Lockheed Martin by 0.8% in the 3rd quarter. BlackRock Inc. now owns 17,385,055 shares of the aerospace company’s stock worth $6,014,535,000 after acquiring an additional 136,348 shares in the last quarter. Morgan Stanley raised its position in shares of Lockheed Martin by 4.4% in the 2nd quarter. Morgan Stanley now owns 3,481,336 shares of the aerospace company’s stock worth $1,028,490,000 after acquiring an additional 147,745 shares in the last quarter. FMR LLC raised its position in shares of Lockheed Martin by 13.7% in the 3rd quarter. FMR LLC now owns 2,656,966 shares of the aerospace company’s stock worth $919,205,000 after acquiring an additional 319,488 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Lockheed Martin by 2.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,598,709 shares of the aerospace company’s stock worth $472,307,000 after acquiring an additional 42,089 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Lockheed Martin by 7.6% in the 3rd quarter. American Century Companies Inc. now owns 1,373,008 shares of the aerospace company’s stock worth $475,006,000 after acquiring an additional 97,339 shares in the last quarter. 77.97% of the stock is owned by hedge funds and other institutional investors.
LMT has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Goldman Sachs Group raised Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and raised their price objective for the company from $391.00 to $394.00 in a research report on Wednesday, October 24th. Morgan Stanley set a $386.00 price objective on Lockheed Martin and gave the company a “buy” rating in a research report on Thursday, October 11th. Zacks Investment Research lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Credit Suisse Group raised their price objective on Lockheed Martin from $340.00 to $368.00 and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $375.44.
In other Lockheed Martin news, VP Bruce L. Tanner sold 11,203 shares of Lockheed Martin stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the completion of the sale, the vice president now owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.
Lockheed Martin stock opened at $300.43 on Monday. The firm has a market capitalization of $85.45 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.83 and a beta of 0.89. Lockheed Martin Co. has a 12 month low of $283.21 and a 12 month high of $363.00. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 EPS for the quarter, topping the Zacks’ consensus estimate of $4.31 by $0.83. The business had revenue of $14.32 billion during the quarter, compared to analyst estimates of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.24 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 17.71 earnings per share for the current 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 $2.20 dividend. 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 dividend on an annualized basis and a dividend yield of 2.93%. Lockheed Martin’s dividend payout ratio (DPR) is presently 60.02%.
Lockheed Martin declared that its board has initiated a share buyback 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 purchase up to 1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors 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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