Lockheed Martin Investment Management Co. Sells 10,240 Shares of CME Group Inc. (NASDAQ:CME)

Lockheed Martin Investment Management Co. trimmed its position in shares of CME Group Inc. (NASDAQ:CME) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,780 shares of the financial services provider’s stock after selling 10,240 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in CME Group were worth $10,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of CME Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 8,284,745 shares of the financial services provider’s stock valued at $1,823,964,000 after purchasing an additional 142,692 shares in the last quarter. Janus Henderson Group PLC boosted its position in CME Group by 17.8% in the third quarter. Janus Henderson Group PLC now owns 2,514,040 shares of the financial services provider’s stock worth $554,707,000 after purchasing an additional 380,071 shares during the last quarter. Franklin Resources Inc. increased its position in shares of CME Group by 70.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,427,107 shares of the financial services provider’s stock valued at $544,157,000 after purchasing an additional 1,003,119 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of CME Group by 11.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,230,100 shares of the financial services provider’s stock worth $492,072,000 after purchasing an additional 237,800 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CME Group by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,981,961 shares of the financial services provider’s stock worth $437,320,000 after buying an additional 26,642 shares during the last quarter. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Stock Up 0.8 %

Shares of CME opened at $242.53 on Wednesday. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $249.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $234.95 and a two-hundred day simple moving average of $223.06. The firm has a market cap of $87.40 billion, a P/E ratio of 25.50, a P/E/G ratio of 5.37 and a beta of 0.57.

CME Group announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

CME Group Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, January 16th. Shareholders of record on Friday, December 27th were given a dividend of $5.80 per share. This is a positive change from CME Group’s previous dividend of $2.50. The ex-dividend date was Friday, December 27th. CME Group’s dividend payout ratio is presently 48.37%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of CME Group from $260.00 to $256.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $235.00 price target on shares of CME Group in a research report on Monday, January 6th. Citigroup lowered shares of CME Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $255.00 to $250.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price target on CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, CME Group has a consensus rating of “Hold” and a consensus price target of $229.27.

About CME Group

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.