Trillium Asset Management LLC Invests $529,000 in Lockheed Martin Co. (NYSE:LMT)
Trillium Asset Management LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,358 shares of the aerospace company’s stock, valued at approximately $529,000.
Other hedge funds have also made changes to their positions in the company. Goelzer Investment Management Inc. grew its stake in Lockheed Martin by 0.4% in the third quarter. Goelzer Investment Management Inc. now owns 32,191 shares of the aerospace company’s stock worth $12,556,000 after purchasing an additional 131 shares during the period. Insight Wealth Strategies LLC lifted its holdings in Lockheed Martin by 492.0% in the third quarter. Insight Wealth Strategies LLC now owns 4,079 shares of the aerospace company’s stock valued at $1,591,000 after acquiring an additional 3,390 shares during the period. Financial Advisory Service Inc. lifted its holdings in Lockheed Martin by 5.1% in the third quarter. Financial Advisory Service Inc. now owns 2,590 shares of the aerospace company’s stock valued at $1,010,000 after acquiring an additional 125 shares during the period. Close Asset Management Ltd lifted its holdings in Lockheed Martin by 4.7% in the third quarter. Close Asset Management Ltd now owns 23,902 shares of the aerospace company’s stock valued at $9,320,000 after acquiring an additional 1,065 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in Lockheed Martin by 1.5% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 9,463 shares of the aerospace company’s stock valued at $3,691,000 after acquiring an additional 140 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a report on Thursday, July 25th. Barclays reissued a “hold” rating and set a $410.00 target price on shares of Lockheed Martin in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Credit Suisse Group decreased their target price on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Morgan Stanley cut their price target on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $371.79.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.64. The business had revenue of $15.17 billion during the quarter, compared to analysts’ expectations of $14.87 billion. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.14 EPS. As a group, research analysts predict that Lockheed Martin Co. will post 21.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $2.40 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, November 29th. This represents a $9.60 dividend on an annualized basis and a dividend yield of 2.44%. Lockheed Martin’s payout ratio is 49.30%.
Lockheed Martin declared that its Board of Directors has approved a share buyback program on Thursday, September 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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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