Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

by · The Cerbat Gem

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Lockheed Martin Co. (NYSE:LMT – Free Report) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 23,372 shares of the aerospace company’s stock after buying an additional 580 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lockheed Martin were worth $13,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the 2nd quarter worth $27,000. Sachetta LLC grew its stake in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin during the 1st quarter worth about $30,000. Finally, Stephens Consulting LLC boosted its position in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $611.76 on Friday. The company has a market cap of $146.78 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock has a 50 day simple moving average of $578.29 and a 200-day simple moving average of $510.27. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $614.62.

Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.73 EPS. On average, equities analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Analyst Ratings Changes

LMT has been the subject of several analyst reports. Citigroup upped their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Susquehanna upped their price objective on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group boosted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $597.92.

Check Out Our Latest Analysis on LMT

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Lockheed Martin Company Profile

(Free Report)

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

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