Symmetry Partners LLC purchased a new stake in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 763 shares of the aerospace company’s stock, valued at approximately $298,000.
Several other institutional investors have also made changes to their positions in LMT. Invesco Ltd. increased 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 worth $950,739,000 after buying an additional 2,047,707 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Lockheed Martin during the 2nd quarter worth approximately $652,536,000. Thoroughbred Financial Services LLC increased 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 worth $134,122,000 after buying an additional 1,337,784 shares in the last quarter. Suvretta Capital Management LLC purchased a new stake in Lockheed Martin during the 2nd quarter worth approximately $233,473,000. Finally, Prudential Financial Inc. increased 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 worth $284,699,000 after buying an additional 278,709 shares in the last quarter. Hedge funds and other institutional investors own 78.57% of the company’s stock.
Several research analysts have recently weighed in on LMT shares. Morgan Stanley lowered their target price on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Credit Suisse Group decreased their price objective on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Finally, Buckingham Research upped their price objective on Lockheed Martin from $405.00 to $450.00 and gave the company a “buy” rating in a report on Thursday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $371.79.
NYSE:LMT traded up $3.11 during trading hours on Friday, reaching $381.86. 772,430 shares of the stock were exchanged, compared to its average volume of 1,168,903. 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 business has a 50-day moving average of $380.57 and a two-hundred 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. The company has a market capitalization of $105.39 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.44 and a beta of 0.95.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The business had revenue of $15.17 billion for the quarter, compared to analyst estimates of $14.87 billion. During the same quarter in the prior year, the company earned $5.14 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 21.57 EPS for the current fiscal year.
The firm also recently announced 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. This represents a $9.60 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio is 49.30%.
Lockheed Martin declared that its board has approved a stock repurchase plan on Thursday, September 26th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is 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.
See Also: Most Volatile Stocks
Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Co. (NYSE:LMT).
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.