Brasada Capital Management LP increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,812 shares of the aerospace company’s stock after purchasing an additional 30 shares during the quarter. Brasada Capital Management LP’s holdings in Lockheed Martin were worth $707,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the business. Doliver Advisors LP lifted its stake in Lockheed Martin by 10.2% in the third quarter. Doliver Advisors LP now owns 1,443 shares of the aerospace company’s stock valued at $552,000 after acquiring an additional 133 shares during the last quarter. Arthur M. Cohen & Associates LLC lifted its stake in Lockheed Martin by 3.3% in the third quarter. Arthur M. Cohen & Associates LLC now owns 4,111 shares of the aerospace company’s stock valued at $1,603,000 after acquiring an additional 131 shares during the last quarter. Private Ocean LLC lifted its stake in Lockheed Martin by 13.2% in the third quarter. Private Ocean LLC now owns 438 shares of the aerospace company’s stock valued at $171,000 after acquiring an additional 51 shares during the last quarter. Karp Capital Management Corp lifted its stake in Lockheed Martin by 1.0% in the third quarter. Karp Capital Management Corp now owns 2,804 shares of the aerospace company’s stock valued at $1,094,000 after acquiring an additional 28 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in Lockheed Martin by 12.6% in the third quarter. Eagle Asset Management Inc. now owns 502,301 shares of the aerospace company’s stock valued at $195,927,000 after acquiring an additional 56,146 shares during the last quarter. Hedge funds and other institutional investors own 78.57% of the company’s stock.
A number of analysts have commented on LMT shares. ValuEngine cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Credit Suisse Group cut their price target on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley cut their price target on shares of Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Buckingham Research increased their price target on shares of Lockheed Martin from $405.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Finally, DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $371.79.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.64. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The business had revenue of $15.17 billion for the quarter, compared to analyst estimates of $14.87 billion. During the same period last year, the firm earned $5.14 earnings per share. Lockheed Martin’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin Co. will post 21.57 EPS for the current fiscal year.
Lockheed Martin declared that its board has approved a share repurchase program on Thursday, September 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $2.40 per share. This represents a $9.60 dividend on an annualized basis and a yield of 2.51%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, November 29th. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.
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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