Lockheed Martin Investment Management Co. Buys New Holdings in Colgate-Palmolive Company $CL

Lockheed Martin Investment Management Co. bought a new stake in Colgate-Palmolive Company (NYSE:CL) in the second quarter, Holdings Channel.com reports. The institutional investor bought 26,100 shares of the company’s stock, valued at approximately $2,372,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CL. Brighton Jones LLC increased its position in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares in the last quarter. DAVENPORT & Co LLC increased its position in Colgate-Palmolive by 1.4% in the 1st quarter. DAVENPORT & Co LLC now owns 43,744 shares of the company’s stock valued at $4,099,000 after buying an additional 608 shares in the last quarter. FSM Wealth Advisors LLC bought a new stake in Colgate-Palmolive in the 1st quarter valued at about $208,000. Pinnacle Financial Partners Inc boosted its stake in Colgate-Palmolive by 7.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 27,096 shares of the company’s stock valued at $2,539,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Revisor Wealth Management LLC boosted its stake in Colgate-Palmolive by 80.6% during the 1st quarter. Revisor Wealth Management LLC now owns 4,753 shares of the company’s stock valued at $445,000 after purchasing an additional 2,121 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $76.54 on Friday. Colgate-Palmolive Company has a twelve month low of $75.38 and a twelve month high of $100.18. The stock’s 50 day moving average price is $80.62 and its 200-day moving average price is $86.51. The company has a market capitalization of $61.86 billion, a PE ratio of 21.50, a PEG ratio of 4.44 and a beta of 0.34. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s payout ratio is 58.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CL shares. Piper Sandler started coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target for the company. Morgan Stanley cut their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research note on Friday, October 10th. UBS Group cut their price target on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.