Rafferty Asset Management LLC lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 11.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,127 shares of the aerospace company’s stock after selling 1,395 shares during the period. Rafferty Asset Management LLC’s holdings in Lockheed Martin were worth $3,849,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at approximately $306,000. Acadian Asset Management LLC raised its position in shares of Lockheed Martin by 44.3% in the 2nd quarter. Acadian Asset Management LLC now owns 78,266 shares of the aerospace company’s stock valued at $23,123,000 after purchasing an additional 24,036 shares during the last quarter. Tributary Capital Management LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at approximately $532,000. OLD National Bancorp IN raised its position in shares of Lockheed Martin by 1.4% in the 2nd quarter. OLD National Bancorp IN now owns 12,154 shares of the aerospace company’s stock valued at $3,591,000 after purchasing an additional 170 shares during the last quarter. Finally, Kaizen Advisory LLC increased its holdings in Lockheed Martin by 158.8% in the 2nd quarter. Kaizen Advisory LLC now owns 621 shares of the aerospace company’s stock worth $183,000 after buying an additional 381 shares during the period. Hedge funds and other institutional investors own 77.97% of the company’s stock.
Several brokerages recently weighed in on LMT. Credit Suisse Group increased their price target on shares of Lockheed Martin from $340.00 to $368.00 and gave the stock a “neutral” rating in a report on Wednesday, October 3rd. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Morgan Stanley set a $386.00 price target on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Thursday, October 11th. Goldman Sachs Group upgraded shares of Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and increased their price target for the stock from $391.00 to $394.00 in a report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $375.44.
Shares of NYSE LMT opened at $295.38 on Friday. The company has a market cap of $84.01 billion, a PE ratio of 16.62, a PEG ratio of 2.78 and a beta of 0.89. Lockheed Martin Co. has a 12 month low of $283.21 and a 12 month high of $363.00. The company has a debt-to-equity ratio of 13.46, a quick ratio of 0.91 and a current ratio of 1.11.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 23rd. The aerospace company reported $5.14 EPS for the quarter, topping analysts’ consensus estimates of $4.31 by $0.83. The business had revenue of $14.32 billion for the quarter, compared to analysts’ expectations of $13.10 billion. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned $3.24 EPS. As a group, analysts forecast that Lockheed Martin Co. will post 17.71 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be paid a dividend of $2.20 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, November 30th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.98%. Lockheed Martin’s dividend payout ratio (DPR) is presently 60.02%.
Lockheed Martin announced that its Board of Directors has approved a share repurchase program on Thursday, September 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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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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