GQG Partners LLC Buys 1,523 Shares of Lockheed Martin Co. (NYSE:LMT)

GQG Partners LLC lifted its position in Lockheed Martin Co. (NYSE:LMT) by 144.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,578 shares of the aerospace company’s stock after acquiring an additional 1,523 shares during the quarter. GQG Partners LLC’s holdings in Lockheed Martin were worth $975,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Clean Yield Group purchased a new position in Lockheed Martin during the second quarter worth about $25,000. Sierra Capital LLC bought a new stake in Lockheed Martin during the first quarter worth $36,000. Selective Wealth Management Inc. purchased a new position in Lockheed Martin in the second quarter worth $38,000. Paragon Wealth Strategies LLC bought a new position in Lockheed Martin in the 2nd quarter valued at $42,000. Finally, Godsey & Gibb Associates raised its stake in shares of Lockheed Martin by 91.8% during the 2nd quarter. Godsey & Gibb Associates now owns 117 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 56 shares during the period. Institutional investors own 74.51% of the company’s stock.

Shares of NYSE LMT traded up $0.52 during midday trading on Thursday, hitting $362.28. 14,051 shares of the company traded hands, compared to its average volume of 1,450,672. Lockheed Martin Co. has a 12-month low of $319.81 and a 12-month high of $396.99. The firm has a market cap of $100.32 billion, a P/E ratio of 14.21, a P/E/G ratio of 3.23 and a beta of 0.98. The stock has a 50-day moving average price of $353.25 and a 200 day moving average price of $371.76. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.15 and a current ratio of 1.36.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Sunday, July 25th. The aerospace company reported $6.52 earnings per share for the quarter, missing analysts’ consensus estimates of $6.53 by ($0.01). The firm had revenue of $17.03 billion for the quarter, compared to analysts’ expectations of $16.93 billion. Lockheed Martin had a return on equity of 123.35% and a net margin of 10.69%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $5.79 EPS. As a group, equities analysts expect that Lockheed Martin Co. will post 23.45 earnings per share for the current year.

Lockheed Martin announced that its board has approved a stock repurchase program on Thursday, September 23rd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 27th. Stockholders of record on Wednesday, December 1st will be issued a dividend of $2.80 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.60. This represents a $11.20 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, November 30th. Lockheed Martin’s dividend payout ratio is presently 41.87%.

Several research firms have commented on LMT. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Lockheed Martin in a report on Friday, September 10th. Wells Fargo & Company raised their price target on Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 27th. Cowen lowered Lockheed Martin from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $400.00 to $375.00 in a report on Wednesday, September 29th. Credit Suisse Group reissued a “neutral” rating and issued a $370.20 price target (down from $394.00) on shares of Lockheed Martin in a report on Tuesday, July 27th. Finally, The Goldman Sachs Group lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and set a $402.00 price target for the company. in a research report on Thursday, September 23rd. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and a consensus target price of $396.03.

About Lockheed Martin

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business 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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