Cigna Investments Inc. New grew its stake in Lockheed Martin Co. (NYSE:LMT) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,015 shares of the aerospace company’s stock after buying an additional 420 shares during the quarter. Cigna Investments Inc. New’s holdings in Lockheed Martin were worth $2,378,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in LMT. Capital International Investors boosted its holdings in shares of Lockheed Martin by 18.6% in the fourth quarter. Capital International Investors now owns 2,230,612 shares of the aerospace company’s stock valued at $868,556,000 after buying an additional 350,205 shares during the period. GQG Partners LLC boosted its holdings in shares of Lockheed Martin by 68.2% in the fourth quarter. GQG Partners LLC now owns 630,783 shares of the aerospace company’s stock valued at $245,737,000 after buying an additional 255,687 shares during the period. First Trust Advisors LP boosted its holdings in shares of Lockheed Martin by 144.8% in the fourth quarter. First Trust Advisors LP now owns 380,732 shares of the aerospace company’s stock valued at $148,249,000 after buying an additional 225,225 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Lockheed Martin by 444.0% in the fourth quarter. Renaissance Technologies LLC now owns 239,300 shares of the aerospace company’s stock valued at $93,179,000 after buying an additional 195,309 shares during the period. Finally, NorthRock Partners LLC boosted its holdings in shares of Lockheed Martin by 9,334.9% in the fourth quarter. NorthRock Partners LLC now owns 149,260 shares of the aerospace company’s stock valued at $709,000 after buying an additional 147,678 shares during the period. Institutional investors own 79.28% of the company’s stock.
Several research analysts have recently weighed in on the stock. Argus reduced their price target on shares of Lockheed Martin from $475.00 to $425.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. They noted that the move was a valuation call. DZ Bank upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a report on Wednesday, March 25th. JPMorgan Chase & Co. increased their target price on shares of Lockheed Martin from $350.00 to $395.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Alembic Global Advisors cut shares of Lockheed Martin from an “overweight” rating to a “neutral” rating and set a $489.00 target price for the company. in a report on Wednesday, January 29th. Finally, Royal Bank of Canada assumed coverage on shares of Lockheed Martin in a report on Wednesday. They set a “sector perform” rating and a $410.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Lockheed Martin has an average rating of “Buy” and an average target price of $439.00.
Shares of LMT traded up $0.18 during trading hours on Friday, hitting $369.00. The company had a trading volume of 752,010 shares, compared to its average volume of 1,363,502. The firm has a market cap of $103.43 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.21 and a beta of 0.98. The business has a fifty day moving average of $373.39 and a 200-day moving average of $387.36. Lockheed Martin Co. has a 12 month low of $266.11 and a 12 month high of $442.53. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 3.28.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 21st. The aerospace company reported $6.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.80 by $0.28. The company had revenue of $15.65 billion for the quarter, compared to analyst estimates of $15.07 billion. Lockheed Martin had a net margin of 10.21% and a return on equity of 185.10%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.99 earnings per share. On average, equities analysts expect that Lockheed Martin Co. will post 24.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be given a $2.40 dividend. This represents a $9.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, May 29th. Lockheed Martin’s payout ratio is presently 43.74%.
Lockheed Martin 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.
Featured Story: What does a dividend yield signify to investors?
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.