Creative Planning lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 3.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,762 shares of the aerospace company’s stock after purchasing an additional 1,613 shares during the period. Creative Planning’s holdings in Lockheed Martin were worth $17,850,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in LMT. Krane Funds Advisors LLC purchased a new position in Lockheed Martin in the second quarter worth approximately $26,000. Accurate Investment Solutions Inc. lifted its stake in Lockheed Martin by 257.1% in the third quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 54 shares during the last quarter. Paragon Capital Management LLC lifted its stake in Lockheed Martin by 406.7% in the second quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 61 shares during the last quarter. KCS Wealth Advisory purchased a new position in Lockheed Martin in the third quarter worth approximately $37,000. Finally, MRA Associates USA LLC purchased a new position in Lockheed Martin in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 78.57% of the company’s stock.
Shares of Lockheed Martin stock traded up $1.68 during trading on Thursday, reaching $381.47. The company’s stock had a trading volume of 215,121 shares, compared to its average volume of 1,150,764. The company has a 50-day moving average price of $381.16 and a two-hundred day moving average price of $364.17. The firm has a market cap of $105.63 billion, a PE ratio of 21.37, a P/E/G ratio of 2.45 and a beta of 0.95. Lockheed Martin Co. has a fifty-two week low of $241.18 and a fifty-two week high of $399.96. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 3.21.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, beating analysts’ consensus estimates of $5.02 by $0.64. The business had revenue of $15.17 billion for the quarter, compared to analysts’ expectations of $14.87 billion. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.14 EPS. On average, analysts predict that Lockheed Martin Co. will post 21.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, November 29th. Lockheed Martin’s payout ratio is presently 49.30%.
Lockheed Martin declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 26th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages recently issued reports on LMT. ValuEngine downgraded shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. UBS Group lifted their price target on shares of Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. DZ Bank restated a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Buckingham Research restated a “buy” rating and set a $450.00 price objective (up previously from $405.00) on shares of Lockheed Martin in a research report on Thursday. They noted that the move was a valuation call. Finally, Credit Suisse Group reduced their price objective on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $371.79.
In other Lockheed Martin news, Director James D. Taiclet, Jr. bought 1,354 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $376.32 per share, with a total value of $509,537.28. Following the acquisition, the director now directly owns 1,354 shares of the company’s stock, valued at approximately $509,537.28. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.
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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