Canada Pension Plan Investment Board Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

Canada Pension Plan Investment Board increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 39.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 451,100 shares of the aerospace company’s stock after buying an additional 126,607 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Lockheed Martin were worth $210,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Aveo Capital Partners LLC lifted its holdings in shares of Lockheed Martin by 4.1% during the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after purchasing an additional 26 shares during the period. Gryphon Financial Partners LLC lifted its position in Lockheed Martin by 111.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock valued at $1,026,000 after purchasing an additional 1,209 shares during the period. TrinityPoint Wealth LLC boosted its holdings in Lockheed Martin by 9.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,948 shares of the aerospace company’s stock valued at $1,789,000 after purchasing an additional 344 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Lockheed Martin by 1.2% in the 4th quarter. Clearbridge Investments LLC now owns 59,743 shares of the aerospace company’s stock valued at $27,078,000 after purchasing an additional 727 shares in the last quarter. Finally, Balboa Wealth Partners increased its position in Lockheed Martin by 11.0% during the 4th quarter. Balboa Wealth Partners now owns 1,153 shares of the aerospace company’s stock worth $522,000 after purchasing an additional 114 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.1 %

LMT opened at $565.18 on Friday. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73. The business has a 50-day moving average of $543.44 and a two-hundred day moving average of $487.37. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a market capitalization of $135.61 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the firm earned $6.73 earnings per share. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.23%. Lockheed Martin’s payout ratio is 46.10%.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group raised their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

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