First National Bank of Omaha trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,058 shares of the aerospace company’s stock after selling 1,256 shares during the quarter. First National Bank of Omaha’s holdings in Lockheed Martin were worth $4,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in LMT. Invesco Ltd. lifted its stake in shares of Lockheed Martin by 360.8% in the 2nd quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock valued at $950,739,000 after purchasing an additional 2,047,707 shares during the period. Nuveen Asset Management LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at about $652,536,000. Thoroughbred Financial Services LLC increased its position in Lockheed Martin by 38,923.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,341,221 shares of the aerospace company’s stock valued at $134,122,000 after buying an additional 1,337,784 shares in the last quarter. Suvretta Capital Management LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at about $233,473,000. Finally, Prudential Financial Inc. increased its position in Lockheed Martin by 55.3% in the 2nd quarter. Prudential Financial Inc. now owns 783,131 shares of the aerospace company’s stock valued at $284,699,000 after buying an additional 278,709 shares in the last quarter. 78.57% of the stock is currently owned by institutional investors.
LMT traded up $2.84 during midday trading on Friday, reaching $381.59. 601,029 shares of the company were exchanged, compared to its average volume of 1,168,903. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.05 and a current ratio of 1.28. The company’s fifty day moving average price is $380.83 and its 200 day moving average price is $364.50. The company has a market cap of $105.39 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 2.44 and a beta of 0.95. Lockheed Martin Co. has a one year low of $241.18 and a one year high of $399.96.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.64. The firm had revenue of $15.17 billion during the quarter, compared to analyst estimates of $14.87 billion. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.14 EPS. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 21.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $2.40 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, November 29th. Lockheed Martin’s payout ratio is currently 49.30%.
Lockheed Martin announced that its Board of Directors has approved a share repurchase program on Thursday, September 26th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages recently commented on LMT. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. ValuEngine lowered Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Credit Suisse Group decreased their target price on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Barclays reaffirmed a “hold” rating and issued a $410.00 target price on shares of Lockheed Martin in a research report on Wednesday, October 9th. Finally, Buckingham Research boosted their target price on Lockheed Martin from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $371.79.
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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