Lockheed Martin Co. (NYSE:LMT) Shares Bought by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 154.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,522 shares of the aerospace company’s stock after buying an additional 5,779 shares during the period. MainStreet Investment Advisors LLC’s holdings in Lockheed Martin were worth $3,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Advisory Inc. acquired a new position in Lockheed Martin during the 2nd quarter worth approximately $240,085,000. American Century Companies Inc. grew its holdings in shares of Lockheed Martin by 121.4% in the 2nd quarter. American Century Companies Inc. now owns 1,275,669 shares of the aerospace company’s stock worth $376,871,000 after acquiring an additional 699,579 shares during the period. Summit Trail Advisors LLC lifted its stake in Lockheed Martin by 32,852.9% in the 1st quarter. Summit Trail Advisors LLC now owns 483,748 shares of the aerospace company’s stock valued at $484,000 after buying an additional 482,280 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Lockheed Martin by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,552,936 shares of the aerospace company’s stock valued at $754,213,000 after buying an additional 292,851 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its stake in Lockheed Martin by 2,001.3% in the 1st quarter. CIBC World Markets Inc. now owns 292,963 shares of the aerospace company’s stock valued at $99,001,000 after buying an additional 279,021 shares in the last quarter. 78.02% of the stock is owned by institutional investors.

Shares of NYSE LMT opened at $306.56 on Wednesday. The stock has a market capitalization of $85.12 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. 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 Co. has a 52-week low of $283.21 and a 52-week high of $363.00.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.31 by $0.83. The company had revenue of $14.32 billion for the quarter, compared to analysts’ expectations of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.24 earnings per share. As a group, analysts anticipate that Lockheed Martin Co. will post 17.68 EPS for the current fiscal year.

Lockheed Martin declared that its board has approved a share buyback plan on Thursday, September 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to buy up to 1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.87%. 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 (DPR) is currently 60.02%.

A number of equities research analysts recently issued reports on the company. Credit Suisse Group reduced their target price on Lockheed Martin from $368.00 to $357.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $366.00 price target on the stock in a research note on Wednesday, October 24th. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 24th. Goldman Sachs Group raised Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and increased their target price for the stock from $391.00 to $394.00 in a research report on Wednesday, October 24th. Finally, Morgan Stanley set a $386.00 price target on Lockheed Martin and gave the company a “buy” rating in a report on Thursday, October 11th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $376.49.

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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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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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