Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 5.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 49,045 shares of the aerospace company’s stock after buying an additional 2,498 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Lockheed Martin were worth $22,579,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in LMT. Edmond DE Rothschild Holding S.A. raised its position in Lockheed Martin by 100.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 30 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Lockheed Martin in the fourth quarter worth about $31,000. Cascade Investment Advisors Inc. acquired a new position in Lockheed Martin in the first quarter worth about $35,000. Alaska Permanent Fund Corp acquired a new position in Lockheed Martin in the second quarter worth about $35,000. Finally, KB Financial Partners LLC acquired a new position in Lockheed Martin in the first quarter worth about $35,000. Institutional investors and hedge funds own 74.26% of the company’s stock.
Lockheed Martin Stock Performance
LMT opened at $443.81 on Tuesday. The company has a market capitalization of $110.11 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.90 and a beta of 0.60. The business’s 50-day moving average price is $433.15 and its two-hundred day moving average price is $445.80. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.36 and a quick ratio of 1.16. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $508.10.
Lockheed Martin Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $3.15 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.00. The ex-dividend date is Thursday, November 30th. This represents a $12.60 annualized dividend and a yield of 2.84%. Lockheed Martin’s dividend payout ratio (DPR) is presently 43.84%.
Analyst Ratings Changes
Several brokerages have weighed in on LMT. Deutsche Bank Aktiengesellschaft began coverage on shares of Lockheed Martin in a research note on Wednesday, September 27th. They set a “hold” rating and a $435.00 price objective on the stock. Citigroup decreased their price target on shares of Lockheed Martin from $555.00 to $540.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. Jefferies Financial Group decreased their price target on shares of Lockheed Martin from $505.00 to $455.00 and set a “hold” rating on the stock in a research note on Wednesday, October 4th. UBS Group assumed coverage on shares of Lockheed Martin in a research note on Tuesday, October 10th. They set a “neutral” rating and a $470.00 price target on the stock. Finally, Morgan Stanley decreased their price target on shares of Lockheed Martin from $532.00 to $510.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $484.07.
Lockheed Martin Company Profile
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, Rotary and Mission Systems, and Space.
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