Cibc World Market Inc. Takes $22.88 Million Position in Lockheed Martin Corporation $LMT

Key Points

• Cibc World Market Inc. acquired 44,904 Lockheed Martin shares worth approximately $22.88 million in the second quarter. Institutional investors collectively own 74.19% of the company.
• Lockheed Martin reported strong quarterly results, with EPS of $7.94 and revenue of $20.06 billion, exceeding analyst expectations; revenue increased 10.5% year over year.
• The company declared a quarterly dividend of $3.45, or $13.80 annually, representing a 2.4% yield. Analysts have a consensus “Hold” rating and an average price target of $632.39.

Cibc World Market Inc. bought a new stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 44,904 shares of the aerospace company's stock, valued at approximately $22,877,000.

A number of other hedge funds have also recently added to or reduced their stakes in LMT. BlackRock Inc. acquired a new stake in Lockheed Martin during the second quarter valued at $9,617,574,000. Charles Schwab Investment Management Inc. raised its position in shares of Lockheed Martin by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,638,936 shares of the aerospace company's stock worth $4,178,399,000 after acquiring an additional 114,900 shares during the period. Morgan Stanley raised its position in shares of Lockheed Martin by 10.1% in the fourth quarter. Morgan Stanley now owns 5,728,551 shares of the aerospace company's stock worth $2,770,729,000 after acquiring an additional 527,523 shares during the period. Franklin Resources Inc. boosted its stake in shares of Lockheed Martin by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 1,670,284 shares of the aerospace company's stock worth $807,866,000 after acquiring an additional 10,349 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Lockheed Martin by 7.4% during the 4th quarter. Deutsche Bank AG now owns 1,440,840 shares of the aerospace company's stock worth $696,891,000 after acquiring an additional 99,403 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 0.2%

Shares of Lockheed Martin stock opened at $564.61 on Monday. The firm has a market capitalization of $130.31 billion, a PE ratio of 20.81, a P/E/G ratio of 0.97 and a beta of 0.10. Lockheed Martin Corporation has a twelve month low of $437.25 and a twelve month high of $692.00. The firm's 50-day moving average price is $547.80 and its 200 day moving average price is $575.31. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 2.34.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The aerospace company reported $7.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.72. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%.The company had revenue of $20.06 billion for the quarter, compared to analysts' expectations of $19.34 billion. During the same period in the previous year, the firm posted $1.46 EPS. Lockheed Martin's revenue was up 10.5% compared to the same quarter last year. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. On average, sell-side analysts predict that Lockheed Martin Corporation will post 30.39 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be given a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 1st. Lockheed Martin's dividend payout ratio (DPR) is 50.87%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Robert W. Baird set a $700.00 price target on Lockheed Martin in a report on Friday, July 24th. Wells Fargo & Company set a $600.00 price objective on Lockheed Martin in a report on Monday, July 27th. Jefferies Financial Group restated a "hold" rating on shares of Lockheed Martin in a research report on Sunday, July 26th. TD Cowen reduced their target price on Lockheed Martin from $600.00 to $560.00 and set a "hold" rating for the company in a research note on Monday, July 13th. Finally, Wall Street Zen lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $632.39.

Lockheed Martin Company Profile

Lockheed Martin Corporation NYSE: LMT is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin's product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source