Robeco Institutional Asset Management B.V. increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 3.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 293,148 shares of the aerospace company’s stock after purchasing an additional 9,517 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Lockheed Martin were worth $101,419,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Polaris Greystone Financial Group LLC lifted its stake in Lockheed Martin by 22.6% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 867 shares of the aerospace company’s stock worth $300,000 after acquiring an additional 160 shares in the last quarter. Franklin Street Advisors Inc. NC raised its stake in shares of Lockheed Martin by 0.6% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 26,660 shares of the aerospace company’s stock worth $7,876,000 after purchasing an additional 168 shares in the last quarter. OLD National Bancorp IN raised its stake in shares of Lockheed Martin by 1.4% during the 2nd quarter. OLD National Bancorp IN now owns 12,154 shares of the aerospace company’s stock worth $3,591,000 after purchasing an additional 170 shares in the last quarter. Summit Financial Strategies Inc. raised its stake in shares of Lockheed Martin by 19.4% during the 2nd quarter. Summit Financial Strategies Inc. now owns 1,046 shares of the aerospace company’s stock worth $309,000 after purchasing an additional 170 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC raised its stake in shares of Lockheed Martin by 4.5% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 3,977 shares of the aerospace company’s stock worth $1,376,000 after purchasing an additional 171 shares in the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.
LMT has been the subject of a number of recent research reports. Credit Suisse Group raised their price target on Lockheed Martin from $355.00 to $340.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Berenberg Bank raised Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Morgan Stanley set a $386.00 price target on Lockheed Martin and gave the stock a “buy” rating in a research note on Thursday, October 11th. Finally, Bank of America raised their price target on Lockheed Martin from $400.00 to $412.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Lockheed Martin currently has a consensus rating of “Buy” and a consensus target price of $376.49.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.31 by $0.83. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The business had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same period last year, the business earned $3.24 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, research analysts forecast that Lockheed Martin Co. will post 17.68 EPS for the current year.
The business also recently disclosed 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 dividend yield of 2.81%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is presently 60.02%.
Lockheed Martin announced that its board has initiated a share buyback 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 reacquire up to 1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, VP Bruce L. Tanner sold 11,203 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the transaction, the vice president now directly owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by company insiders.
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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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