Family Legacy Inc. raised its stake in Lockheed Martin Co. (NYSE:LMT) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,857 shares of the aerospace company’s stock after purchasing an additional 324 shares during the period. Lockheed Martin accounts for 1.6% of Family Legacy Inc.’s holdings, making the stock its 17th biggest holding. Family Legacy Inc.’s holdings in Lockheed Martin were worth $2,818,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Lockheed Martin by 0.5% during the second quarter. Vanguard Group Inc. now owns 21,642,359 shares of the aerospace company’s stock valued at $7,867,863,000 after buying an additional 111,239 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Lockheed Martin by 360.8% during the second quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock valued at $950,739,000 after buying an additional 2,047,707 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Lockheed Martin during the second quarter valued at about $652,536,000. Johanson Financial Advisors Inc. grew its holdings in shares of Lockheed Martin by 39,049.2% during the fourth quarter. Johanson Financial Advisors Inc. now owns 1,390,972 shares of the aerospace company’s stock valued at $3,574,000 after buying an additional 1,387,419 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Lockheed Martin by 14.8% during the third quarter. California Public Employees Retirement System now owns 1,175,837 shares of the aerospace company’s stock valued at $458,647,000 after buying an additional 151,338 shares during the last quarter. 78.42% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on LMT shares. ValuEngine cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Credit Suisse Group reduced their price objective on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Buckingham Research lifted their price objective on shares of Lockheed Martin from $405.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, November 7th. They noted that the move was a valuation call. Barclays reiterated a “hold” rating and set a $410.00 price objective on shares of Lockheed Martin in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $379.58.
Lockheed Martin stock traded down $3.68 during midday trading on Tuesday, hitting $415.34. 61,691 shares of the stock were exchanged, compared to its average volume of 1,081,240. Lockheed Martin Co. has a 52-week low of $270.63 and a 52-week high of $420.96. The stock has a market capitalization of $117.40 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 2.41 and a beta of 0.94. The business’s 50-day moving average price is $394.19 and its 200-day moving average price is $381.65. The company has a quick ratio of 1.05, a current ratio of 1.28 and a debt-to-equity ratio of 3.21.
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 the consensus estimate of $5.02 by $0.64. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The business had revenue of $15.17 billion for the quarter, compared to analysts’ expectations of $14.87 billion. During the same period in the previous year, the company earned $5.14 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that Lockheed Martin Co. will post 21.62 earnings per share for the current fiscal year.
Lockheed Martin declared that its board has authorized a stock repurchase program on Thursday, September 26th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board 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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