DT Investment Partners LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 642 shares of the aerospace company’s stock, valued at approximately $222,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Autus Asset Management LLC acquired a new position in Lockheed Martin during the 3rd quarter valued at about $227,000. RNC Capital Management LLC increased its position in Lockheed Martin by 1,203.0% during the 3rd quarter. RNC Capital Management LLC now owns 59,611 shares of the aerospace company’s stock valued at $20,623,000 after buying an additional 55,036 shares in the last quarter. Investment Partners LTD. increased its position in Lockheed Martin by 10.4% during the 3rd quarter. Investment Partners LTD. now owns 1,950 shares of the aerospace company’s stock valued at $346,000 after buying an additional 183 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Lockheed Martin by 3.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 293,148 shares of the aerospace company’s stock valued at $101,419,000 after buying an additional 9,517 shares in the last quarter. Finally, Palo Capital Inc. acquired a new position in Lockheed Martin during the 3rd quarter valued at about $199,000. 77.90% of the stock is owned by hedge funds and other institutional investors.
Shares of LMT stock opened at $305.05 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.97 and a debt-to-equity ratio of 13.46. The stock has a market capitalization of $87.26 billion, a PE ratio of 17.24, a PEG ratio of 2.36 and a beta of 0.71. Lockheed Martin Co. has a fifty-two week low of $291.52 and a fifty-two week high of $363.00.
Lockheed Martin declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be issued a $2.20 dividend. The ex-dividend date is Friday, November 30th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.88%. Lockheed Martin’s dividend payout ratio is currently 60.02%.
LMT has been the topic of several recent analyst reports. Berenberg Bank raised Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Bank of America upped their target price on Lockheed Martin from $400.00 to $412.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Stifel Nicolaus reduced their target price on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $343.00 target price on the stock in a research report on Wednesday, July 11th. Finally, UBS Group initiated coverage on Lockheed Martin in a research report on Wednesday, August 15th. They set a “buy” rating and a $400.00 target price on the stock. Nine equities 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 company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $376.49.
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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