TD Asset Management Inc Boosts Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• TD Asset Management Inc increased its stake in Lockheed Martin Corporation to 99,873 shares, valued at $44.61 million, a 0.8% growth in the first quarter.
• Lockheed Martin reported an earnings per share (EPS) of $7.29 for the quarter, outperforming the estimated $6.57, while revenue was slightly below expectations at <$strong>18.16 billion.
• The company announced a dividend of $3.30 per share, set to be paid on September 26, with a dividend yield of 3.15%.

TD Asset Management Inc lifted its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,873 shares of the aerospace company's stock after purchasing an additional 774 shares during the quarter. TD Asset Management Inc's holdings in Lockheed Martin were worth $44,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock valued at $2,374,557,000 after purchasing an additional 59,597 shares in the last quarter. Northern Trust Corp lifted its position in shares of Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after buying an additional 134,662 shares during the last quarter. Invesco Ltd. lifted its position in shares of Lockheed Martin by 17.5% in the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after buying an additional 318,007 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Lockheed Martin by 41,104.9% in the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after buying an additional 1,986,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Lockheed Martin by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,274,580 shares of the aerospace company's stock worth $619,369,000 after purchasing an additional 70,516 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LMT shares. Robert W. Baird decreased their price target on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a research note on Monday, July 14th. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Susquehanna dropped their price target on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reduced their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Trading Up 0.2%

Shares of Lockheed Martin stock traded up $0.95 during mid-day trading on Friday, hitting $421.93. The stock had a trading volume of 835,890 shares, compared to its average volume of 1,677,157. The firm has a 50-day moving average of $461.64 and a two-hundred day moving average of $461.27. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The firm has a market cap of $98.50 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.47 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the business posted $7.11 EPS. The business's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 74.32%.

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.