Caisse DE Depot ET Placement DU Quebec Purchases 46,900 Shares of Lockheed Martin Co. (NYSE:LMT)

Caisse DE Depot ET Placement DU Quebec lifted its position in Lockheed Martin Co. (NYSE:LMT) by 139.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,554 shares of the aerospace company’s stock after buying an additional 46,900 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Lockheed Martin were worth $47,089,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the 2nd quarter worth $27,000. Sachetta LLC boosted its stake in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Stephens Consulting LLC boosted its stake in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. Burkett Financial Services LLC acquired a new position in Lockheed Martin in the 3rd quarter worth $32,000. Finally, Ridgewood Investments LLC acquired a new position in Lockheed Martin in the 2nd quarter worth $35,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LMT shares. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Up 0.7 %

Lockheed Martin stock opened at $529.41 on Friday. The stock has a market cap of $125.49 billion, a P/E ratio of 19.17, a P/E/G ratio of 4.32 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company’s 50-day moving average price is $568.75 and its two-hundred day moving average price is $529.34.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.77 EPS. As a group, analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.49%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 45.62%.

About Lockheed Martin

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.