D L Carlson Investment Group Inc. boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 10.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,569 shares of the aerospace company’s stock after acquiring an additional 1,694 shares during the period. Lockheed Martin accounts for about 2.2% of D L Carlson Investment Group Inc.’s investment portfolio, making the stock its 6th largest position. D L Carlson Investment Group Inc.’s holdings in Lockheed Martin were worth $6,853,000 at the end of the most recent reporting period.
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Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Lockheed Martin by 0.5% during the second quarter. Vanguard Group Inc. now owns 21,642,359 shares of the aerospace company’s stock valued at $7,867,863,000 after purchasing an additional 111,239 shares during the period. Northern Trust Corp lifted its stake in Lockheed Martin by 1.3% in the second quarter. Northern Trust Corp now owns 3,153,040 shares of the aerospace company’s stock worth $1,146,256,000 after acquiring an additional 41,269 shares during the period. Invesco Ltd. raised its holdings in Lockheed Martin by 360.8% in the second quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock worth $950,739,000 after purchasing an additional 2,047,707 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Lockheed Martin by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,981,732 shares of the aerospace company’s stock worth $720,440,000 after purchasing an additional 9,767 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,940,513 shares of the aerospace company’s stock worth $705,455,000 after purchasing an additional 72,256 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.
Lockheed Martin stock traded up $3.39 during mid-day trading on Friday, hitting $393.55. The company had a trading volume of 822,915 shares, compared to its average volume of 1,205,842. Lockheed Martin Co. has a 12-month low of $241.18 and a 12-month high of $399.96. The company has a market capitalization of $110.05 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 2.54 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.05 and a debt-to-equity ratio of 3.21. The company’s fifty day moving average is $380.33 and its 200-day moving average is $366.69.
Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.64. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The firm had revenue of $15.17 billion for the quarter, compared to analyst estimates of $14.87 billion. During the same quarter last year, the firm posted $5.14 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that Lockheed Martin Co. will post 21.62 EPS for the current fiscal year.
Lockheed Martin declared that its board has approved a stock buyback plan on Thursday, September 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to purchase up to 1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid 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 yield of 2.44%. The ex-dividend date of this dividend is Friday, November 29th. Lockheed Martin’s dividend payout ratio is currently 49.30%.
LMT has been the subject of a number of recent research reports. Buckingham Research boosted their target price on shares of Lockheed Martin from $405.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. They noted that the move was a valuation call. ValuEngine downgraded shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Barclays restated a “hold” rating and set a $410.00 price objective on shares of Lockheed Martin in a report on Wednesday, October 9th. Finally, Credit Suisse Group cut their price objective on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $371.79.
About Lockheed Martin
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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