GAMMA Investing LLC Purchases 2,019 Shares of Lockheed Martin Co. (NYSE:LMT)

GAMMA Investing LLC raised its stake in Lockheed Martin Co. (NYSE:LMT) by 130.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,572 shares of the aerospace company’s stock after buying an additional 2,019 shares during the period. GAMMA Investing LLC’s holdings in Lockheed Martin were worth $1,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of LMT. First Pacific Financial acquired a new position in Lockheed Martin during the 1st quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at about $26,000. Wiser Advisor Group LLC increased its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin during the first quarter worth about $30,000. Finally, Thompson Investment Management Inc. acquired a new stake in Lockheed Martin during the first quarter worth about $38,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent research reports. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group dropped their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Susquehanna raised their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $526.77.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.0 %

Shares of NYSE LMT traded down $0.09 during trading on Friday, hitting $548.77. 1,484,756 shares of the company traded hands, compared to its average volume of 1,127,651. The company has a 50-day moving average price of $476.89 and a 200-day moving average price of $456.78. 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 Co. has a 1 year low of $393.77 and a 1 year high of $561.12. The firm has a market capitalization of $130.80 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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 for 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 firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.73 EPS. On average, equities analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

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.