Canada Pension Plan Investment Board Acquires 126,607 Shares of Lockheed Martin Co. (NYSE:LMT)

Canada Pension Plan Investment Board increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 39.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 451,100 shares of the aerospace company’s stock after purchasing an additional 126,607 shares during the period. Canada Pension Plan Investment Board owned approximately 0.19% of Lockheed Martin worth $210,709,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sachetta LLC increased its stake in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC increased its position in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin during the first quarter valued at approximately $30,000. Stephens Consulting LLC boosted 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 during the period. Finally, Ridgewood Investments LLC bought a new position in Lockheed Martin in the second quarter worth approximately $35,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Barclays upped their target price on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $500.00 to $600.00 in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT stock opened at $565.18 on Friday. The company has a market capitalization of $135.61 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm’s 50-day moving average is $543.44 and its two-hundred day moving average is $487.37. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.73 EPS. Analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

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.