Watts Gwilliam & Co. LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,802 shares of the aerospace company’s stock, valued at approximately $1,096,000.
Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the last quarter. Buck Wealth Strategies LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $6,611,000. Verity & Verity LLC raised its stake in shares of Lockheed Martin by 3.2% during the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after purchasing an additional 1,071 shares in the last quarter. New Mexico Educational Retirement Board raised its position in Lockheed Martin by 20.5% during the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after acquiring an additional 2,400 shares in the last quarter. Finally, American National Bank raised its holdings in shares of Lockheed Martin by 26.8% in the 1st quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock valued at $16,638,000 after purchasing an additional 7,731 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.
Insider Buying and Selling
In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.
Lockheed Martin Trading Down 1.3 %
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $6.73 earnings per share. On average, research analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.
Lockheed Martin Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.21%. Lockheed Martin’s payout ratio is presently 45.74%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Citigroup boosted their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Royal Bank of Canada boosted their price objective on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $581.77.
View Our Latest Analysis on Lockheed Martin
Lockheed Martin 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.
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