DAVENPORT & Co LLC trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,470 shares of the aerospace company’s stock after selling 1,120 shares during the quarter. DAVENPORT & Co LLC’s holdings in Lockheed Martin were worth $45,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in LMT. Capital World Investors grew its holdings in Lockheed Martin by 1.5% during the first quarter. Capital World Investors now owns 17,207,412 shares of the aerospace company’s stock worth $5,832,471,000 after buying an additional 252,054 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Lockheed Martin by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 9,017,771 shares of the aerospace company’s stock valued at $3,290,766,000 after buying an additional 519,019 shares during the last quarter. FMR LLC grew its stake in shares of Lockheed Martin by 42.0% during the 2nd quarter. FMR LLC now owns 3,368,655 shares of the aerospace company’s stock worth $1,229,291,000 after acquiring an additional 995,998 shares during the period. Royal Bank of Canada increased its holdings in Lockheed Martin by 1.5% in the 1st quarter. Royal Bank of Canada now owns 2,390,917 shares of the aerospace company’s stock worth $810,401,000 after acquiring an additional 35,500 shares during the last quarter. Finally, Capital International Investors raised its stake in Lockheed Martin by 6.5% in the 1st quarter. Capital International Investors now owns 2,375,034 shares of the aerospace company’s stock valued at $805,018,000 after acquiring an additional 144,422 shares during the period. Institutional investors own 77.56% of the company’s stock.
A number of brokerages have weighed in on LMT. Morgan Stanley initiated coverage on shares of Lockheed Martin in a research report on Tuesday, September 8th. They set an “overweight” rating and a $509.00 target price for the company. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $410.00 to $404.00 in a research note on Friday, July 17th. Credit Suisse Group lowered their target price on shares of Lockheed Martin from $433.00 to $400.00 and set a “hold” rating on the stock in a report on Friday, July 17th. Argus raised their price target on Lockheed Martin from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $450.59.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $5.79 EPS for the quarter, topping the consensus estimate of $5.72 by $0.07. The business had revenue of $16.22 billion during the quarter, compared to analyst estimates of $15.19 billion. Lockheed Martin had a net margin of 10.25% and a return on equity of 182.05%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.00 earnings per share. As a group, analysts forecast that Lockheed Martin Co. will post 24.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Tuesday, December 1st will be paid a dividend of $2.60 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.40. This represents a $10.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Monday, November 30th. Lockheed Martin’s payout ratio is currently 43.74%.
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 Systems.
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