Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 104,703 shares of the aerospace company’s stock after purchasing an additional 1,846 shares during the quarter. Lockheed Martin comprises about 1.6% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 26th largest position. Stonegate Investment Group LLC’s holdings in Lockheed Martin were worth $61,205,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sonoma Private Wealth LLC purchased a new stake in shares of Lockheed Martin during the third quarter worth about $241,000. Claro Advisors LLC lifted its stake in shares of Lockheed Martin by 197.5% during the 3rd quarter. Claro Advisors LLC now owns 11,898 shares of the aerospace company’s stock worth $6,955,000 after purchasing an additional 7,898 shares during the period. Onyx Bridge Wealth Group LLC boosted its stake in Lockheed Martin by 18.4% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 1,070 shares of the aerospace company’s stock worth $625,000 after buying an additional 166 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter worth about $144,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Lockheed Martin by 2.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,372 shares of the aerospace company’s stock worth $13,662,000 after purchasing an additional 580 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LMT. JPMorgan Chase & Co. boosted their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday. Susquehanna increased their price target on Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a report on Thursday. 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 research note on Monday, October 7th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $597.92.

Insider Buying and Selling

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 value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded down $0.03 during trading on Friday, reaching $609.59. The company had a trading volume of 127,795 shares, compared to its average volume of 1,043,456. The firm has a market capitalization of $146.26 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $614.62. The firm’s fifty day moving average is $577.08 and its 200 day moving average is $509.17.

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, beating analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $6.73 EPS. On average, equities analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 dividend on an annualized basis and a yield of 2.17%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

About Lockheed Martin

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.