TD Asset Management Inc. Grows Stake in Lockheed Martin Co. (LMT)
TD Asset Management Inc. grew its position in Lockheed Martin Co. (NYSE:LMT) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 542,160 shares of the aerospace company’s stock after purchasing an additional 16,782 shares during the period. TD Asset Management Inc.’s holdings in Lockheed Martin were worth $141,959,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMT. Man Group plc grew its stake in shares of Lockheed Martin by 63.0% during the third quarter. Man Group plc now owns 70,260 shares of the aerospace company’s stock worth $24,307,000 after purchasing an additional 27,160 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in shares of Lockheed Martin by 277.3% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 26,952 shares of the aerospace company’s stock worth $9,324,000 after purchasing an additional 19,808 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Lockheed Martin by 182.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 26,204 shares of the aerospace company’s stock worth $9,065,000 after purchasing an additional 16,918 shares during the period. Union Bankshares Corp grew its stake in shares of Lockheed Martin by 1.7% during the fourth quarter. Union Bankshares Corp now owns 8,108 shares of the aerospace company’s stock worth $2,123,000 after purchasing an additional 135 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Lockheed Martin by 0.9% during the third quarter. Vanguard Group Inc. now owns 21,266,343 shares of the aerospace company’s stock worth $7,357,305,000 after purchasing an additional 199,456 shares during the period. 85.33% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $313.00 price objective on shares of Lockheed Martin in a research note on Tuesday, February 5th. Zacks Investment Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 14th. Bank of America reaffirmed a “buy” rating and set a $390.00 price objective on shares of Lockheed Martin in a research note on Wednesday, January 30th. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $297.00 price objective on shares of Lockheed Martin in a research note on Wednesday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lockheed Martin currently has a consensus rating of “Buy” and an average price target of $348.50.
NYSE:LMT traded down $0.90 on Monday, reaching $300.60. The company’s stock had a trading volume of 252,033 shares, compared to its average volume of 1,326,654. Lockheed Martin Co. has a 1-year low of $241.18 and a 1-year high of $363.00. The company has a current ratio of 1.12, a quick ratio of 0.91 and a debt-to-equity ratio of 8.70. The stock has a market cap of $85.67 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 2.24 and a beta of 1.02.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $4.39. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The firm had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.75 billion. During the same period in the previous year, the firm earned ($2.25) earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Co. will post 19.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be paid a $2.20 dividend. The ex-dividend date is Thursday, February 28th. This represents a $8.80 dividend on an annualized basis and a yield of 2.93%. Lockheed Martin’s payout ratio is 49.30%.
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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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