Klingenstein Fields & Co. LLC Has $5.16 Million Position in Lockheed Martin Co. (LMT)

Klingenstein Fields & Co. LLC lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,908 shares of the aerospace company’s stock after selling 196 shares during the period. Klingenstein Fields & Co. LLC’s holdings in Lockheed Martin were worth $5,158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LMT. Principal Financial Group Inc. increased its holdings in Lockheed Martin by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 522,448 shares of the aerospace company’s stock worth $176,551,000 after acquiring an additional 13,005 shares during the period. IFM Investors Pty Ltd increased its holdings in Lockheed Martin by 51.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 10,504 shares of the aerospace company’s stock worth $3,103,000 after acquiring an additional 3,581 shares during the period. Lynch & Associates IN increased its holdings in Lockheed Martin by 3.0% during the 2nd quarter. Lynch & Associates IN now owns 15,665 shares of the aerospace company’s stock worth $4,628,000 after acquiring an additional 461 shares during the period. Founders Capital Management increased its holdings in Lockheed Martin by 6.8% during the 2nd quarter. Founders Capital Management now owns 5,657 shares of the aerospace company’s stock worth $1,671,000 after acquiring an additional 360 shares during the period. Finally, Capital Investment Advisors LLC increased its holdings in Lockheed Martin by 1.2% during the 2nd quarter. Capital Investment Advisors LLC now owns 24,229 shares of the aerospace company’s stock worth $7,158,000 after acquiring an additional 288 shares during the period. 77.88% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently weighed in on LMT shares. Credit Suisse Group upped their target price on shares of Lockheed Martin from $355.00 to $340.00 and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Goldman Sachs Group raised shares of Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and boosted their price target for the stock from $391.00 to $394.00 in a research note on Wednesday, October 24th. Zacks Investment Research cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Morgan Stanley set a $386.00 price target on shares of Lockheed Martin and gave the stock a “buy” rating in a research note on Thursday, October 11th. Finally, Bank of America boosted their price target on shares of Lockheed Martin from $400.00 to $412.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $376.49.

Shares of Lockheed Martin stock opened at $299.28 on Friday. Lockheed Martin Co. has a 52-week low of $283.21 and a 52-week high of $363.00. The firm has a market capitalization of $85.12 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The company had revenue of $14.32 billion during the quarter, compared to analysts’ expectations of $13.10 billion. During the same quarter in the prior year, the company earned $3.24 EPS. The firm’s revenue was up 16.0% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 17.68 EPS for the current year.

Lockheed Martin announced that its Board of Directors has initiated a share buyback plan on Thursday, September 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be paid a $2.20 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, November 30th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.94%. Lockheed Martin’s dividend payout ratio is 60.02%.

About Lockheed Martin

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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