CIBC Asset Management Inc Has $27.18 Million Stake in Lockheed Martin Co. (NYSE:LMT)

CIBC Asset Management Inc boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.5% in the third quarter, HoldingsChannel reports. The firm owned 46,497 shares of the aerospace company’s stock after acquiring an additional 1,987 shares during the period. CIBC Asset Management Inc’s holdings in Lockheed Martin were worth $27,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CVA Family Office LLC boosted its position in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares during the period. AllGen Financial Advisors Inc. raised its stake in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 18 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares during the period. Sunburst Financial Group LLC grew its stake in shares of Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC increased its holdings in Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.8 %

Shares of NYSE LMT opened at $534.82 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a market capitalization of $126.77 billion, a P/E ratio of 19.36, a P/E/G ratio of 4.56 and a beta of 0.49. The company has a 50-day moving average price of $577.16 and a 200-day moving average price of $523.91.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the company posted $6.77 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.47%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 45.62%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LMT shares. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays lifted their price objective on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.