Marshall Wace LLP raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 163.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,001 shares of the aerospace company’s stock after buying an additional 49,018 shares during the period. Marshall Wace LLP’s holdings in Lockheed Martin were worth $27,331,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Canton Hathaway LLC purchased a new stake in Lockheed Martin during the third quarter valued at about $104,000. FTB Advisors Inc. raised its stake in shares of Lockheed Martin by 142.6% during the second quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 211 shares during the last quarter. Fort L.P. bought a new position in shares of Lockheed Martin during the second quarter valued at about $116,000. Amussen Hunsaker Associates LLC raised its stake in shares of Lockheed Martin by 159.1% during the third quarter. Amussen Hunsaker Associates LLC now owns 342 shares of the aerospace company’s stock valued at $118,000 after acquiring an additional 210 shares during the last quarter. Finally, Quad Cities Investment Group LLC bought a new position in shares of Lockheed Martin during the second quarter valued at about $131,000. Institutional investors and hedge funds own 77.63% of the company’s stock.
In related news, VP Bruce L. Tanner sold 11,203 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 79,770 shares of the company’s stock, valued at $24,608,247.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is owned by corporate insiders.
Several brokerages have recently commented on LMT. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. UBS Group began coverage on shares of Lockheed Martin in a research note on Wednesday, August 15th. They set a “buy” rating and a $400.00 price objective for the company. Credit Suisse Group upped their price objective on shares of Lockheed Martin from $340.00 to $368.00 and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. Finally, Morgan Stanley set a $386.00 price objective on shares of Lockheed Martin and gave the company a “buy” rating in a research note on Thursday, October 11th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $373.13.
LMT stock opened at $285.40 on Friday. Lockheed Martin Co. has a 1 year low of $277.20 and a 1 year high of $363.00. The stock has a market capitalization of $81.45 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.70 and a beta of 0.88. 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 released its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $13.10 billion. During the same period in the prior year, the firm earned $3.24 earnings per share. Lockheed Martin’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts anticipate that Lockheed Martin Co. will post 17.71 earnings per share for the current fiscal year.
Lockheed Martin declared that its board has initiated a share buyback program on Thursday, September 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are 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 paid a $2.20 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, November 30th. Lockheed Martin’s dividend payout ratio is presently 66.02%.
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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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