Colonial Trust Advisors Purchases 3,871 Shares of Lockheed Martin Co. (NYSE:LMT)
Colonial Trust Advisors raised its stake in Lockheed Martin Co. (NYSE:LMT) by 70.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,331 shares of the aerospace company’s stock after buying an additional 3,871 shares during the period. Colonial Trust Advisors’ holdings in Lockheed Martin were worth $3,576,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $32,000. Proffitt & Goodson Inc. grew its position in shares of Lockheed Martin by 58.2% in the 2nd quarter. Proffitt & Goodson Inc. now owns 106 shares of the aerospace company’s stock valued at $39,000 after buying an additional 39 shares during the last quarter. Lenox Wealth Advisors LLC grew its position in shares of Lockheed Martin by 140.5% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 101 shares of the aerospace company’s stock valued at $39,000 after buying an additional 59 shares during the last quarter. Bay Harbor Wealth Management LLC grew its position in shares of Lockheed Martin by 56.2% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 114 shares of the aerospace company’s stock valued at $42,000 after buying an additional 41 shares during the last quarter. Finally, Hoover Financial Advisors Inc. bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 77.56% of the company’s stock.
A number of equities research analysts have commented on the company. Credit Suisse Group reduced their price target on Lockheed Martin from $433.00 to $400.00 and set a “hold” rating on the stock in a research report on Friday, July 17th. Argus boosted their price objective on Lockheed Martin from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Goldman Sachs Group downgraded Lockheed Martin from a “conviction-buy” rating to a “buy” rating in a research note on Sunday, September 20th. Royal Bank of Canada boosted their price objective on Lockheed Martin from $405.00 to $414.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 21st. Finally, ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $451.18.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 20th. The aerospace company reported $6.25 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.18. The business had revenue of $16.50 billion for the quarter, compared to the consensus estimate of $16.14 billion. Lockheed Martin had a return on equity of 182.05% and a net margin of 10.25%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $5.66 EPS. As a group, analysts predict that Lockheed Martin Co. will post 24.45 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Tuesday, December 1st will be paid a $2.60 dividend. The ex-dividend date is Monday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.40. This represents a $10.40 annualized dividend and a dividend yield of 2.87%. Lockheed Martin’s dividend payout ratio is 43.74%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space Systems.
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