CCM Investment Group LLC Takes Position in Lockheed Martin Corporation (NYSE:LMT)
CCM Investment Group LLC has acquired a new stake in Lockheed Martin Corporation (NYSE:LMT), purchasing 12,327 shares valued at approximately $5.44 million. Other institutional investors have also increased their holdings. Analysts have set various target prices for Lockheed Martin, with a consensus rating of "Hold" and a target price of $506.65. The stock is currently down 1.2%, trading at $425.68, with a market cap of $99.38 billion. Lockheed Martin recently reported earnings of $7.29 per share, exceeding estimates, and announced a quarterly dividend of $3.30.
CCM Investment Group LLC acquired a new stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 12,327 shares of the aerospace company's stock, valued at approximately $5,442,000.
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Other hedge funds and other institutional investors have also recently modified their holdings of the company. PTM Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the first quarter worth $377,000. First American Bank lifted its stake in shares of Lockheed Martin by 18.8% during the first quarter. First American Bank now owns 8,393 shares of the aerospace company's stock worth $3,749,000 after buying an additional 1,327 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $33,294,000. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in shares of Lockheed Martin by 18.6% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 17,129 shares of the aerospace company's stock worth $7,652,000 after buying an additional 2,686 shares during the period. Finally, State of Wyoming lifted its stake in shares of Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after buying an additional 539 shares during the period. 74.19% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on LMT. Vertical Research reissued a "hold" rating and set a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a report on Wednesday, April 16th. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Jefferies Financial Group reduced their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $506.65.
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Lockheed Martin Stock Down 1.2%
LMT opened at $425.68 on Friday. The company has a fifty day moving average of $456.14 and a two-hundred day moving average of $458.38. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $618.95. The stock has a market capitalization of $99.38 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.49 and a beta of 0.27. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98.
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Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the business earned $7.11 earnings per share. The company's revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.
Lockheed Martin Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.
Lockheed Martin 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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