Lockheed Martin Investment Management Co. Reduces Stock Position in CME Group Inc. (NASDAQ:CME)

Lockheed Martin Investment Management Co. lessened its holdings in shares of CME Group Inc. (NASDAQ:CME) by 19.0% during the fourth quarter, Holdings Channel reports. The firm owned 43,780 shares of the financial services provider’s stock after selling 10,240 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in CME Group were worth $10,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of CME Group during the third quarter valued at approximately $26,000. SJS Investment Consulting Inc. increased its position in shares of CME Group by 570.6% during the fourth quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock valued at $26,000 after buying an additional 97 shares during the period. Dunhill Financial LLC raised its stake in CME Group by 188.4% in the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after buying an additional 81 shares in the last quarter. Financial Life Planners purchased a new stake in CME Group in the fourth quarter worth about $32,000. Finally, Fortitude Family Office LLC lifted its stake in shares of CME Group by 120.3% in the 4th quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 83 shares during the period. Institutional investors own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CME. Morgan Stanley raised their price objective on CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Citigroup cut CME Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $255.00 to $250.00 in a research report on Monday, January 6th. Oppenheimer raised their price target on CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $235.00 price objective on shares of CME Group in a research report on Monday, January 6th. Finally, Redburn Atlantic cut shares of CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price target on the stock. in a report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, CME Group presently has a consensus rating of “Hold” and a consensus price target of $229.27.

CME Group Price Performance

NASDAQ CME opened at $242.53 on Wednesday. The company has a 50-day moving average price of $234.95 and a 200-day moving average price of $223.06. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $87.40 billion, a P/E ratio of 25.50, a PEG ratio of 5.37 and a beta of 0.57. CME Group Inc. has a 52 week low of $190.70 and a 52 week high of $249.02.

CME Group Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were paid a dividend of $5.80 per share. The ex-dividend date was Friday, December 27th. This is a boost from CME Group’s previous dividend of $2.50. CME Group’s dividend payout ratio (DPR) is currently 48.37%.

CME Group declared that its Board of Directors has initiated a share buyback plan on Thursday, December 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

CME Group Profile

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.