PointState Capital LP Acquires New Stake in Lockheed Martin Co. (NYSE:LMT)

PointState Capital LP acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 25,500 shares of the aerospace company’s stock, valued at approximately $9,947,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Krane Funds Advisors LLC purchased a new stake in Lockheed Martin in the 2nd quarter valued at $26,000. Paragon Capital Management LLC grew its holdings in shares of Lockheed Martin by 406.7% during the 2nd quarter. Paragon Capital Management LLC now owns 76 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 61 shares during the period. Accurate Investment Solutions Inc. grew its holdings in shares of Lockheed Martin by 257.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 54 shares during the period. KCS Wealth Advisory purchased a new position in shares of Lockheed Martin during the 3rd quarter worth $37,000. Finally, MRA Associates USA LLC acquired a new stake in Lockheed Martin in the 2nd quarter valued at about $38,000. 78.50% of the stock is owned by hedge funds and other institutional investors.

LMT has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. ValuEngine lowered Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Credit Suisse Group cut their target price on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Barclays reissued a “hold” rating and set a $410.00 target price on shares of Lockheed Martin in a research report on Wednesday, October 9th. Finally, Morgan Stanley dropped their price target on Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $371.79.

Shares of LMT stock traded down $2.90 during midday trading on Friday, hitting $391.34. The company had a trading volume of 261,304 shares, compared to its average volume of 1,022,163. The company’s 50 day simple moving average is $382.02 and its 200 day simple moving average is $370.55. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $399.96. The stock has a market cap of $110.71 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.56 and a beta of 0.95. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.28 and a quick ratio of 1.05.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.64. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The company had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $14.87 billion. During the same period last year, the business posted $5.14 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Analysts anticipate that Lockheed Martin Co. will post 21.62 EPS for the current year.

Lockheed Martin declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase up to 1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $2.40 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, November 29th. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.

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 (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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