Meiji Yasuda Life Insurance Co increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,872 shares of the aerospace company’s stock after purchasing an additional 492 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Lockheed Martin were worth $3,415,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LMT. Canton Hathaway LLC bought a new position in Lockheed Martin in the third quarter worth approximately $104,000. FTB Advisors Inc. boosted its holdings in Lockheed Martin by 142.6% in the second quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock worth $105,000 after acquiring an additional 211 shares in the last quarter. Fort L.P. bought a new position in Lockheed Martin in the second quarter worth approximately $116,000. Quad Cities Investment Group LLC bought a new position in Lockheed Martin in the second quarter worth approximately $131,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Lockheed Martin by 69.2% in the second quarter. Parkside Financial Bank & Trust now owns 516 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 211 shares in the last quarter. 77.97% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on the company. Credit Suisse Group increased their price target on 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 lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Morgan Stanley set a $386.00 target price on Lockheed Martin and gave the company a “buy” rating in a report on Thursday, October 11th. Goldman Sachs Group upgraded Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and raised their target price for the company from $391.00 to $394.00 in a report on Wednesday, October 24th. Finally, JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $375.44.
Shares of Lockheed Martin stock opened at $295.38 on Monday. The firm has a market cap of $84.01 billion, a P/E ratio of 22.16, a price-to-earnings-growth 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 results on Tuesday, October 23rd. The aerospace company reported $5.14 EPS for the quarter, topping the Zacks’ consensus estimate of $4.31 by $0.83. The business had revenue of $14.32 billion for the quarter, compared to analyst estimates of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. Lockheed Martin’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $3.24 earnings per share. Research analysts anticipate that Lockheed Martin Co. will post 17.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be issued a dividend of $2.20 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is 60.02%.
Lockheed Martin announced that its Board of Directors has approved a share buyback program on Thursday, September 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is 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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