Mutual Advisors LLC Acquires 2,293 Shares of Lockheed Martin Co. (LMT)
Mutual Advisors LLC boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 66.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,750 shares of the aerospace company’s stock after purchasing an additional 2,293 shares during the period. Mutual Advisors LLC’s holdings in Lockheed Martin were worth $1,989,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Sheaff Brock Investment Advisors LLC lifted its stake in Lockheed Martin by 277.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 26,952 shares of the aerospace company’s stock worth $9,324,000 after purchasing an additional 19,808 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Lockheed Martin by 182.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,204 shares of the aerospace company’s stock valued at $9,065,000 after acquiring an additional 16,918 shares during the period. Welch Group LLC increased its position in shares of Lockheed Martin by 3.0% in the third quarter. Welch Group LLC now owns 81,044 shares of the aerospace company’s stock valued at $28,038,000 after acquiring an additional 2,356 shares during the period. Mendel Money Management purchased a new position in shares of Lockheed Martin in the third quarter valued at about $579,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Lockheed Martin by 3.6% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 59,408 shares of the aerospace company’s stock valued at $20,565,000 after acquiring an additional 2,049 shares during the period. 77.68% of the stock is owned by institutional investors and hedge funds.
In related news, VP Bruce L. Tanner sold 11,203 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the transaction, the vice president now owns 79,770 shares in the company, valued at $24,608,247.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by insiders.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The company had revenue of $14.32 billion for the quarter, compared to analysts’ expectations of $13.10 billion. During the same quarter in the previous year, the company earned $3.24 earnings per share. Lockheed Martin’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts predict that Lockheed Martin Co. will post 17.71 EPS for the current fiscal year.
Lockheed Martin declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be given a dividend of $2.20 per share. The ex-dividend date is Friday, November 30th. This represents a $8.80 annualized dividend and a dividend yield of 3.06%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s payout ratio is currently 66.02%.
A number of equities analysts have issued reports on LMT shares. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $366.00 price objective on the stock in a research report on Wednesday, October 24th. Morgan Stanley set a $386.00 price objective on shares of Lockheed Martin and gave the company a “buy” rating in a research report on Thursday, October 11th. Goldman Sachs Group upgraded shares of Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and boosted their price objective for the company from $391.00 to $394.00 in a research report on Wednesday, October 24th. Barclays decreased their price objective on shares of Lockheed Martin from $369.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 4th. Finally, ValuEngine upgraded shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $373.13.
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.
Further Reading: Net Asset Value (NAV)
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