Cohen Lawrence B grew its stake in Lockheed Martin Co. (NYSE:LMT) by 78.9% during the third quarter, HoldingsChannel reports. The firm owned 1,070 shares of the aerospace company’s stock after purchasing an additional 472 shares during the quarter. Cohen Lawrence B’s holdings in Lockheed Martin were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Eastern Bank boosted its stake in shares of Lockheed Martin by 1.6% in the third quarter. Eastern Bank now owns 11,843 shares of the aerospace company’s stock valued at $4,619,000 after buying an additional 182 shares in the last quarter. Bartlett & Co. LLC boosted its stake in shares of Lockheed Martin by 321.5% in the third quarter. Bartlett & Co. LLC now owns 31,635 shares of the aerospace company’s stock valued at $12,340,000 after buying an additional 24,130 shares in the last quarter. Strategic Wealth Advisors Group LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at approximately $4,011,000. Schulhoff & Co. Inc. boosted its stake in shares of Lockheed Martin by 0.8% in the third quarter. Schulhoff & Co. Inc. now owns 14,475 shares of the aerospace company’s stock valued at $5,646,000 after buying an additional 122 shares in the last quarter. Finally, Boston Private Wealth LLC boosted its stake in shares of Lockheed Martin by 5.5% in the third quarter. Boston Private Wealth LLC now owns 3,905 shares of the aerospace company’s stock valued at $1,523,000 after buying an additional 202 shares in the last quarter. 78.57% of the stock is currently owned by institutional investors and hedge funds.
LMT opened at $379.79 on Thursday. The business’s fifty day moving average is $381.16 and its two-hundred day moving average is $364.17. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.05 and a current ratio of 1.28. The company has a market cap of $105.63 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.45 and a beta of 0.95. Lockheed Martin Co. has a one year low of $241.18 and a one year high of $399.96.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, topping the Zacks’ consensus estimate of $5.02 by $0.64. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The company had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $14.87 billion. During the same period in the previous year, the business earned $5.14 earnings per share. Lockheed Martin’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Co. will post 21.57 EPS for the current fiscal year.
Lockheed Martin announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $2.40 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, November 29th. Lockheed Martin’s dividend payout ratio is currently 49.30%.
In related news, Director James D. Taiclet, Jr. acquired 1,354 shares of Lockheed Martin stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $376.32 per share, for a total transaction of $509,537.28. Following the completion of the transaction, the director now directly owns 1,354 shares of the company’s stock, valued at $509,537.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.
LMT has been the topic of a number of research analyst reports. DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Credit Suisse Group decreased their target price on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley decreased their target price on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. UBS Group boosted their target price on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Lockheed Martin presently has a consensus rating of “Buy” and a consensus target price of $365.77.
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.
Further Reading: Market Perform
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