Canton Hathaway LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 300 shares of the aerospace company’s stock, valued at approximately $104,000.
A number of other large investors have also recently added to or reduced their stakes in LMT. FTB Advisors Inc. boosted its position in Lockheed Martin by 142.6% during the 2nd quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock worth $105,000 after acquiring an additional 211 shares during the last quarter. Fort L.P. acquired a new position in Lockheed Martin during the 2nd quarter worth approximately $116,000. FNY Investment Advisers LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter worth approximately $117,000. Quad Cities Investment Group LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter worth approximately $131,000. Finally, Trilogy Capital Inc. bought a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $134,000. 77.84% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Maryanne Lavan sold 7,250 shares of the stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total value of $2,346,390.00. Following the sale, the senior vice president now owns 9,869 shares in the company, valued at approximately $3,194,003.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Marillyn A. Hewson sold 25,000 shares of the stock in a transaction on Friday, July 27th. The shares were sold at an average price of $323.68, for a total value of $8,092,000.00. Following the completion of the sale, the chairman now owns 90,625 shares in the company, valued at approximately $29,333,500. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.
LMT opened at $327.62 on Friday. Lockheed Martin Co. has a 1-year low of $291.52 and a 1-year high of $363.00. The company has a current ratio of 1.19, a quick ratio of 0.97 and a debt-to-equity ratio of 28.14. The firm has a market capitalization of $98.52 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.74 and a beta of 0.71.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.92 by $0.39. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The business had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.72 billion. During the same quarter in the prior year, the business earned $3.23 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts expect that Lockheed Martin Co. will post 17.21 earnings per share for the current year.
Lockheed Martin announced that its board has authorized a share repurchase plan on Thursday, September 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, November 30th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio is 60.02%.
LMT has been the topic of a number of analyst reports. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $343.00 price objective on the stock in a research note on Wednesday, July 11th. Morgan Stanley dropped their price objective on Lockheed Martin from $370.00 to $352.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Cowen upgraded Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research note on Wednesday, July 25th. Stifel Nicolaus dropped their price objective on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Finally, Sanford C. Bernstein upped their price objective on Lockheed Martin from $349.00 to $356.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $377.14.
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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