Sweet Financial Partners LLC Acquires 229 Shares of Lockheed Martin Co. (NYSE:LMT)

Sweet Financial Partners LLC increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,668 shares of the aerospace company’s stock after acquiring an additional 229 shares during the period. Sweet Financial Partners LLC’s holdings in Lockheed Martin were worth $2,729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares during the period. Buck Wealth Strategies LLC acquired a new position in Lockheed Martin during the second quarter worth $6,611,000. Verity & Verity LLC lifted its holdings in shares of Lockheed Martin by 3.2% during the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after acquiring an additional 1,071 shares during the period. Watts Gwilliam & Co. LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $1,096,000. Finally, New Mexico Educational Retirement Board grew its holdings in shares of Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.5 %

Shares of NYSE:LMT opened at $609.69 on Friday. The company has a 50 day moving average of $577.08 and a 200-day moving average of $509.17. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $614.62. The stock has a market cap of $146.29 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last released its 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 firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.73 EPS. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.17%. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Barclays lifted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $597.92.

Lockheed Martin Company 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.