Fairfield Bush & CO. cut its position in Lockheed Martin Co. (NYSE:LMT) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,390 shares of the aerospace company’s stock after selling 260 shares during the period. Fairfield Bush & CO.’s holdings in Lockheed Martin were worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Lockheed Martin in the third quarter worth approximately $104,000. FTB Advisors Inc. boosted its stake in shares of Lockheed Martin by 142.6% in the second quarter. FTB Advisors Inc. now owns 359 shares of the aerospace company’s stock worth $105,000 after acquiring an additional 211 shares during the last quarter. Fort L.P. acquired a new stake in shares of Lockheed Martin in the second quarter worth approximately $116,000. Quad Cities Investment Group LLC acquired a new stake in shares of Lockheed Martin in the second quarter worth approximately $131,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Lockheed Martin by 69.2% in the second quarter. Parkside Financial Bank & Trust now owns 516 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 211 shares during the last quarter. 77.63% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the transaction, the vice president now owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.
Shares of Lockheed Martin stock opened at $296.79 on Tuesday. Lockheed Martin Co. has a 52 week low of $283.21 and a 52 week high of $363.00. The firm has a market capitalization of $85.45 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.83 and a beta of 0.88. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.31 by $0.83. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The business had revenue of $14.32 billion for the quarter, compared to analyst estimates of $13.10 billion. During the same quarter in the prior year, the company posted $3.24 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Equities analysts forecast that Lockheed Martin Co. will post 17.71 earnings per share for the current fiscal year.
Lockheed Martin declared that its Board of Directors has approved a stock buyback plan on Thursday, September 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be paid a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, November 30th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio is 66.02%.
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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 (MFC), Rotary and Mission Systems (RMS), and Space.
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