CIBC Asset Management Inc Purchases 1,987 Shares of Lockheed Martin Co. (NYSE:LMT)

CIBC Asset Management Inc increased its position in Lockheed Martin Co. (NYSE:LMT) by 4.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,497 shares of the aerospace company’s stock after buying an additional 1,987 shares during the period. CIBC Asset Management Inc’s holdings in Lockheed Martin were worth $27,180,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC lifted its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC increased its holdings in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Stephens Consulting LLC raised its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter worth approximately $32,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LMT has been the topic of several analyst reports. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Susquehanna lowered their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their target price on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Trading Down 0.8 %

Shares of LMT stock opened at $534.82 on Friday. The firm has a fifty day moving average of $577.16 and a 200-day moving average of $523.91. The stock has a market cap of $126.77 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 4.56 and a beta of 0.49. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.77 earnings per share. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.47%. Lockheed Martin’s payout ratio is currently 45.62%.

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.