FTB Advisors Inc. lifted its position in Lockheed Martin Co. (NYSE:LMT) by 79.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 644 shares of the aerospace company’s stock after purchasing an additional 285 shares during the quarter. FTB Advisors Inc.’s holdings in Lockheed Martin were worth $1,237,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of LMT. Canton Hathaway LLC bought a new stake in Lockheed Martin during the 3rd quarter worth about $104,000. Fort L.P. bought a new stake in Lockheed Martin during the 2nd quarter worth about $116,000. FNY Investment Advisers LLC bought a new stake in Lockheed Martin during the 2nd quarter worth about $117,000. Quad Cities Investment Group LLC bought a new stake in Lockheed Martin during the 2nd quarter worth about $131,000. Finally, Kiley Juergens Wealth Management LLC bought a new stake in Lockheed Martin during the 2nd quarter worth about $135,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on LMT shares. JPMorgan Chase & Co. decreased their price objective 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. Morgan Stanley set a $386.00 price objective on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Cowen raised shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price objective on the stock in a report on Wednesday, July 25th. Finally, Credit Suisse Group increased their price objective 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. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $376.49.
Shares of NYSE LMT opened at $313.12 on Friday. The stock has a market capitalization of $88.12 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.19 and a beta of 0.89. 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 Co. has a 1 year low of $283.21 and a 1 year high of $363.00.
Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.31 by $0.83. The company had revenue of $14.32 billion for the quarter, compared to analyst estimates of $13.10 billion. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.24 EPS. Analysts expect that Lockheed Martin Co. will post 17.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be paid a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Friday, November 30th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio (DPR) is 60.02%.
Lockheed Martin announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, VP Bruce L. Tanner sold 11,203 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total value of $3,456,013.47. Following the transaction, the vice president now owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.
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.
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