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

CIBC Asset Management Inc raised its stake in Lockheed Martin Co. (NYSE:LMT) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor 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 at the end of the most recent reporting period.

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

Lockheed Martin Price Performance

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

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities research analysts forecast that Lockheed Martin Co. will post 27.14 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.12%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Analysts Set New Price Targets

LMT has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. UBS Group lowered their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $555.60.

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.