Lockheed Martin Investment Management Co. Grows Stake in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Lockheed Martin Investment Management Co. increased its stake in Procter & Gamble by 22.8%, acquiring an additional 21,610 shares, bringing its total holdings to 116,410 shares valued at approximately $19.84 million.
• Procter & Gamble reported Q2 earnings with an EPS of $1.48, surpassing analyst expectations, and demonstrated a 1.7% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.0568 per share, reflecting a dividend yield of 2.8%, set to be paid to investors on August 15th.

Lockheed Martin Investment Management Co. increased its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 22.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,410 shares of the company's stock after acquiring an additional 21,610 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Procter & Gamble were worth $19,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PG. Nuveen LLC bought a new position in shares of Procter & Gamble during the first quarter valued at $1,954,941,000. GAMMA Investing LLC raised its stake in Procter & Gamble by 20,758.5% during the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after buying an additional 7,913,335 shares during the last quarter. Capital Research Global Investors raised its stake in Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock worth $1,240,294,000 after buying an additional 2,846,560 shares during the last quarter. Northern Trust Corp increased its stake in Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Procter & Gamble by 19.8% in the first quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock valued at $2,299,580,000 after purchasing an additional 2,228,151 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research note on Thursday, May 1st. Piper Sandler lifted their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Raymond James Financial decreased their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Citigroup decreased their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble presently has an average rating of "Moderate Buy" and an average price target of $175.88.

Procter & Gamble Stock Up 1.0%

Procter & Gamble stock traded up $1.52 during midday trading on Monday, hitting $155.03. 7,327,441 shares of the stock were exchanged, compared to its average volume of 7,956,396. Procter & Gamble Company has a 52-week low of $149.91 and a 52-week high of $180.43. The stock has a market capitalization of $363.13 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.05 and a beta of 0.37. The business's 50-day moving average price is $158.01 and its 200-day moving average price is $163.60. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The business had revenue of $20.89 billion for the quarter, compared to analysts' expectations of $20.79 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $1.0568 per share. The ex-dividend date is Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.7%. Procter & Gamble's payout ratio is 64.98%.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.