Natixis lessened its position in Lockheed Martin Co. (NYSE:LMT) by 44.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,189 shares of the aerospace company’s stock after selling 80,584 shares during the period. Natixis’ holdings in Lockheed Martin were worth $37,528,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of LMT. K.J. Harrison & Partners Inc increased its holdings in shares of Lockheed Martin by 1.0% during the first quarter. K.J. Harrison & Partners Inc now owns 2,780 shares of the aerospace company’s stock worth $1,027,000 after buying an additional 27 shares in the last quarter. Marotta Asset Management grew its position in Lockheed Martin by 3.6% during the 2nd quarter. Marotta Asset Management now owns 777 shares of the aerospace company’s stock worth $295,000 after acquiring an additional 27 shares during the last quarter. Kovack Advisors Inc. increased its holdings in Lockheed Martin by 0.6% during the 2nd quarter. Kovack Advisors Inc. now owns 4,905 shares of the aerospace company’s stock valued at $1,856,000 after purchasing an additional 27 shares in the last quarter. Budros Ruhlin & Roe Inc. raised its position in Lockheed Martin by 0.6% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 5,045 shares of the aerospace company’s stock valued at $1,909,000 after purchasing an additional 29 shares during the last quarter. Finally, Lehman & Derafelo Financial Resources LLC boosted its stake in Lockheed Martin by 4.2% in the first quarter. Lehman & Derafelo Financial Resources LLC now owns 749 shares of the aerospace company’s stock worth $277,000 after purchasing an additional 30 shares in the last quarter. 74.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:LMT traded up $0.55 during mid-day trading on Thursday, reaching $362.31. The stock had a trading volume of 2,301 shares, compared to its average volume of 1,450,672. The firm has a 50 day simple moving average of $353.25 and a two-hundred day simple moving average of $371.76. Lockheed Martin Co. has a twelve month low of $319.81 and a twelve month high of $396.99. The firm has a market cap of $100.33 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 3.23 and a beta of 0.98. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 1.79.
Lockheed Martin announced that its board has approved a share buyback program on Thursday, September 23rd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the aerospace company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 27th. Investors of record on Wednesday, December 1st will be paid a dividend of $2.80 per share. This represents a $11.20 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.60. Lockheed Martin’s dividend payout ratio (DPR) is presently 41.87%.
LMT has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Lockheed Martin from a “buy” rating to a “neutral” rating and set a $402.00 price target for the company. in a report on Thursday, September 23rd. Cowen lowered shares of Lockheed Martin from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $400.00 to $375.00 in a research report on Wednesday, September 29th. Jefferies Financial Group reissued a “neutral” rating on shares of Lockheed Martin in a report on Friday, September 10th. Wells Fargo & Company upped their price objective on Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 27th. Finally, Credit Suisse Group restated a “neutral” rating and set a $370.20 target price (down previously from $394.00) on shares of Lockheed Martin in a research report on Tuesday, July 27th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $396.03.
Lockheed Martin Profile
Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.
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