Gateway Investment Advisers LLC Decreases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Gateway Investment Advisers LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 63.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,012 shares of the aerospace company’s stock after selling 6,891 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lockheed Martin were worth $1,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Chesley Taft & Associates LLC boosted its position in Lockheed Martin by 0.6% during the third quarter. Chesley Taft & Associates LLC now owns 4,496 shares of the aerospace company’s stock valued at $1,754,000 after acquiring an additional 26 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Lockheed Martin by 0.5% in the 2nd quarter. Private Trust Co. NA now owns 5,385 shares of the aerospace company’s stock worth $1,957,000 after acquiring an additional 28 shares during the last quarter. Independence Bank of Kentucky raised its holdings in shares of Lockheed Martin by 12.0% in the 2nd quarter. Independence Bank of Kentucky now owns 280 shares of the aerospace company’s stock worth $102,000 after acquiring an additional 30 shares during the last quarter. Granite Investment Partners LLC raised its holdings in shares of Lockheed Martin by 0.3% in the 2nd quarter. Granite Investment Partners LLC now owns 10,622 shares of the aerospace company’s stock worth $3,862,000 after acquiring an additional 30 shares during the last quarter. Finally, Marietta Wealth Management LLC raised its holdings in shares of Lockheed Martin by 0.9% in the 2nd quarter. Marietta Wealth Management LLC now owns 3,496 shares of the aerospace company’s stock worth $1,271,000 after acquiring an additional 30 shares during the last quarter. 78.57% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $381.00 to $364.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Credit Suisse Group reduced their price objective on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. DZ Bank reaffirmed a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Buckingham Research upped their price objective on shares of Lockheed Martin from $405.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $371.79.

NYSE:LMT traded up $3.11 during trading hours on Friday, reaching $381.86. The company’s stock had a trading volume of 772,430 shares, compared to its average volume of 1,168,903. The firm has a market capitalization of $105.39 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.44 and a beta of 0.95. The firm has a 50-day simple moving average of $380.57 and a 200-day simple moving average of $364.83. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $399.96. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.05 and a current ratio of 1.28.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.64. The company had revenue of $15.17 billion for the quarter, compared to analysts’ expectations of $14.87 billion. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.14 EPS. Equities analysts anticipate that Lockheed Martin Co. will post 21.57 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.

Lockheed Martin announced that its Board of Directors has initiated a share repurchase program on Thursday, September 26th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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