Public Employees Retirement Association of Colorado reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 319,069 shares of the aerospace company’s stock after selling 531 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.11% of Lockheed Martin worth $124,456,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of LMT. Krane Funds Advisors LLC bought a new stake in Lockheed Martin in the second quarter worth approximately $26,000. Paragon Capital Management LLC increased its holdings in Lockheed Martin by 406.7% in the second quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 61 shares in the last quarter. Accurate Investment Solutions Inc. grew its stake in Lockheed Martin by 257.1% in the third quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 54 shares during the period. KCS Wealth Advisory acquired a new stake in Lockheed Martin in the third quarter valued at approximately $37,000. Finally, MRA Associates USA LLC acquired a new stake in Lockheed Martin in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 78.57% of the company’s stock.
A number of equities research analysts have commented on the company. Barclays reissued a “hold” rating and issued a $410.00 price objective on shares of Lockheed Martin in a research note on Wednesday, October 9th. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Morgan Stanley reduced their price objective on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Buckingham Research raised their price objective on Lockheed Martin from $405.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Finally, DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. One 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 stock. The company has a consensus rating of “Buy” and an average price target of $371.79.
Shares of NYSE:LMT traded up $3.11 during mid-day trading on Friday, hitting $381.86. 772,430 shares of the company traded hands, compared to its average volume of 1,168,903. The stock has a market cap of $105.39 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.44 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 3.21. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $399.96. The stock has a 50-day moving average price of $380.57 and a two-hundred day moving average price of $364.83.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.02 by $0.64. The company 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%. Lockheed Martin’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.14 earnings per share. As a group, analysts expect that Lockheed Martin Co. will post 21.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $2.40 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date is Friday, November 29th. This represents a $9.60 annualized dividend and a dividend yield of 2.51%. Lockheed Martin’s payout ratio is presently 49.30%.
Lockheed Martin declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Lockheed Martin Company 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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