GW&K Investment Management LLC raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 117,706 shares of the aerospace company’s stock after acquiring an additional 422 shares during the period. GW&K Investment Management LLC’s holdings in Lockheed Martin were worth $45,912,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of LMT. Invesco Ltd. raised its stake in Lockheed Martin by 360.8% during the 2nd quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock valued at $950,739,000 after acquiring an additional 2,047,707 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Lockheed Martin during the 2nd quarter valued at approximately $652,536,000. Thoroughbred Financial Services LLC raised its stake in Lockheed Martin by 38,923.0% during 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 acquiring an additional 1,337,784 shares during the last quarter. Suvretta Capital Management LLC purchased a new stake in Lockheed Martin during the 2nd quarter valued at approximately $233,473,000. Finally, Prudential Financial Inc. raised its stake in Lockheed Martin by 55.3% during the 2nd quarter. Prudential Financial Inc. now owns 783,131 shares of the aerospace company’s stock valued at $284,699,000 after acquiring an additional 278,709 shares during the last quarter. 78.57% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on LMT shares. DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Barclays reiterated a “hold” rating and set a $410.00 target price on shares of Lockheed Martin in a research report on Wednesday, October 9th. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Morgan Stanley dropped their target price on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Credit Suisse Group dropped their target price on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $371.79.
Shares of LMT traded up $3.11 on Friday, reaching $381.86. The stock had a trading volume of 772,430 shares, compared to its average volume of 1,168,903. The firm has a market capitalization of $105.39 billion, a PE ratio of 21.39, a PEG ratio of 2.44 and a beta of 0.95. The company has a quick ratio of 1.05, a current ratio of 1.28 and a debt-to-equity ratio of 3.21. The firm has a 50-day moving average of $380.57 and a 200 day moving average of $364.83. Lockheed Martin Co. has a twelve month low of $241.18 and a twelve month high of $399.96.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share for the quarter, topping analysts’ consensus estimates of $5.02 by $0.64. The business had revenue of $15.17 billion for the quarter, compared to analysts’ expectations 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 was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.14 EPS. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 21.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $2.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio is currently 49.30%.
Lockheed Martin announced that its board has authorized a share repurchase program on Thursday, September 26th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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