Gateway Investment Advisers LLC Grows Stock Position in Lockheed Martin Co. (NYSE:LMT)

Gateway Investment Advisers LLC increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,811 shares of the aerospace company’s stock after purchasing an additional 25 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lockheed Martin were worth $2,812,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in LMT. Wulff Hansen & CO. grew its holdings in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after buying an additional 440,169 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of Lockheed Martin in the 1st quarter valued at $151,402,000. Capital Research Global Investors increased its position in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after buying an additional 218,466 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on LMT shares. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Barclays increased their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $581.77.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred 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 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 through this link. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Up 1.1 %

NYSE:LMT opened at $604.17 on Friday. The company has a market capitalization of $144.96 billion, a PE ratio of 22.11, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $611.59. The stock’s 50 day moving average price is $572.03 and its 200 day moving average price is $505.23. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the business earned $6.73 EPS. Lockheed Martin’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.18%. 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 (DPR) is presently 48.30%.

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.