Cibc World Market Inc. Acquires 14,814 Shares of Lockheed Martin Corporation $LMT

Cibc World Market Inc. lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 49.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,912 shares of the aerospace company’s stock after buying an additional 14,814 shares during the period. Cibc World Market Inc.’s holdings in Lockheed Martin were worth $22,421,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of LMT. Vanguard Group Inc. boosted its stake in shares of Lockheed Martin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after purchasing an additional 214,565 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lockheed Martin by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock valued at $2,256,147,000 after purchasing an additional 19,459 shares during the last quarter. Legal & General Group Plc lifted its stake in Lockheed Martin by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 959,510 shares of the aerospace company’s stock valued at $444,387,000 after purchasing an additional 6,073 shares during the last quarter. AQR Capital Management LLC boosted its position in Lockheed Martin by 6.9% in the second quarter. AQR Capital Management LLC now owns 863,839 shares of the aerospace company’s stock valued at $400,079,000 after buying an additional 55,607 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Lockheed Martin by 16.6% during the second quarter. Ameriprise Financial Inc. now owns 761,382 shares of the aerospace company’s stock worth $347,381,000 after buying an additional 108,553 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Sanford C. Bernstein reissued a “market perform” rating and set a $654.00 price target on shares of Lockheed Martin in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Lockheed Martin from $492.00 to $611.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Truist Financial lifted their target price on shares of Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Morgan Stanley set a $675.00 target price on shares of Lockheed Martin in a report on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Price Performance

Shares of LMT opened at $628.98 on Thursday. The firm has a market cap of $144.72 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.14 and a beta of 0.23. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $646.59. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09. The business’s 50 day moving average price is $537.63 and its two-hundred day moving average price is $491.07.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.53). The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.67 EPS. On average, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be given a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is 64.22%.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.