CIBC Asset Management Inc Has $22.69 Million Position in Lockheed Martin Co. (NYSE:LMT)

CIBC Asset Management Inc grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,691 shares of the aerospace company’s stock after buying an additional 194 shares during the period. CIBC Asset Management Inc’s holdings in Lockheed Martin were worth $22,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of LMT. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at about $35,000. Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin in the third quarter worth about $40,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth about $42,000. Finally, Vestor Capital LLC bought a new position in shares of Lockheed Martin during the 3rd quarter valued at about $46,000. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on LMT shares. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Royal Bank of Canada lowered their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Down 2.7 %

Lockheed Martin stock opened at $423.15 on Tuesday. The company’s 50-day moving average is $477.08 and its 200-day moving average is $532.77. The firm has a market capitalization of $99.60 billion, a PE ratio of 19.01, a P/E/G ratio of 2.12 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a fifty-two week low of $418.58 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.14 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 3.12%. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

About Lockheed Martin

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.