Lockheed Martin Co. (LMT) Holdings Trimmed by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in Lockheed Martin Co. (NYSE:LMT) by 4.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 70,129 shares of the aerospace company’s stock after selling 2,964 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Lockheed Martin were worth $24,262,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Canton Hathaway LLC acquired a new position in Lockheed Martin during the third quarter worth about $104,000. FTB Advisors Inc. boosted its position in Lockheed Martin by 142.6% during the second 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 second quarter worth about $116,000. Quad Cities Investment Group LLC acquired a new position in Lockheed Martin during the second quarter worth about $131,000. Finally, Kiley Juergens Wealth Management LLC acquired a new position in Lockheed Martin during the second quarter worth about $135,000. 77.97% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Lockheed Martin from $352.00 to $377.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 25th. Stifel Nicolaus reduced their target price on shares of Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Cowen raised shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 target price on the stock in a research note on Wednesday, July 25th. Finally, Sanford C. Bernstein lifted their target price on shares of 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 analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $375.44.
Lockheed Martin stock opened at $301.24 on Monday. The company has a market capitalization of $85.68 billion, a PE ratio of 22.60, a P/E/G ratio of 2.13 and a beta of 0.89. Lockheed Martin Co. has a 1 year low of $283.21 and a 1 year high of $363.00. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.31 by $0.83. The business had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $13.10 billion. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.24 EPS. On average, research analysts forecast that Lockheed Martin Co. will post 17.71 EPS for the current year.
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.92%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, November 30th. Lockheed Martin’s payout ratio is 60.02%.
Lockheed Martin announced that its board has initiated a share repurchase plan on Thursday, September 27th 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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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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