Gateway Wealth Partners LLC Sells 94 Shares of Lockheed Martin Co. (NYSE:LMT)

Gateway Wealth Partners LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 7.7% in the third quarter, HoldingsChannel reports. The fund owned 1,121 shares of the aerospace company’s stock after selling 94 shares during the period. Gateway Wealth Partners LLC’s holdings in Lockheed Martin were worth $655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC bought a new position in Lockheed Martin during the 3rd quarter valued at approximately $32,000. Mattson Financial Services LLC bought a new position in Lockheed Martin during the 2nd quarter valued at approximately $27,000. Sachetta LLC raised its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its position in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the 1st quarter valued at approximately $30,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LMT shares. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company upped their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Susquehanna reduced their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Stock Performance

LMT stock opened at $555.17 on Tuesday. The stock has a market capitalization of $133.21 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The stock’s 50 day simple moving average is $580.01 and its 200 day simple moving average is $516.25.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 EPS. As a group, research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.38%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 48.30%.

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.