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

CIBC Asset Management Inc boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 4.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,497 shares of the aerospace company's stock after acquiring 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 quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the second quarter worth about $27,000. Sachetta LLC raised its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its position 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 grew its holdings in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC bought a new stake in Lockheed Martin in the third quarter worth $32,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 0.8 %

LMT traded down $4.16 on Friday, reaching $534.83. 1,757,312 shares of the company traded hands, compared to its average volume of 1,063,416. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market cap of $126.78 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. The firm has a fifty day simple moving average of $576.52 and a two-hundred day simple moving average of $524.37. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts' consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the company posted $6.77 EPS. Lockheed Martin's revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LMT shares. Deutsche Bank Aktiengesellschaft lifted 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. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 24th. Bank of America reaffirmed a "buy" rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Royal Bank of Canada cut their target price on Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin has an average rating of "Moderate Buy" and an average target price of $611.00.

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.