Lockheed Martin Investment Management Co. Buys Shares of 26,100 Colgate-Palmolive Company $CL

Lockheed Martin Investment Management Co. bought a new stake in Colgate-Palmolive Company (NYSE:CL) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 26,100 shares of the company’s stock, valued at approximately $2,372,000.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Colgate-Palmolive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after purchasing an additional 455,198 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Colgate-Palmolive by 3.7% in the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock valued at $672,447,000 after purchasing an additional 253,604 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Colgate-Palmolive by 2.6% in the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock valued at $653,761,000 after purchasing an additional 177,833 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CL. The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Barclays cut their price objective on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Morgan Stanley cut their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Finally, Bank of America cut their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Colgate-Palmolive Stock Up 1.1%

Shares of NYSE:CL opened at $76.54 on Friday. The firm has a market cap of $61.86 billion, a P/E ratio of 21.50, a P/E/G ratio of 4.44 and a beta of 0.34. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 12-month low of $75.38 and a 12-month high of $100.18. The business has a fifty day simple moving average of $80.62 and a 200 day simple moving average of $86.51.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. Analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.43%.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.