Lockheed Martin Co. (NYSE:LMT) Stock Position Increased by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 161.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,215 shares of the aerospace company’s stock after buying an additional 751 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Lockheed Martin were worth $567,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LMT. Wulff Hansen & CO. grew its stake in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after acquiring an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp grew its position in Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares in the last quarter. Confluence Investment Management LLC acquired a new position in Lockheed Martin in the 1st quarter valued at approximately $151,402,000. Capital Research Global Investors lifted its position in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after buying an additional 218,506 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Lockheed Martin by 219.3% during 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.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LMT. 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 research report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. UBS Group lifted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Trading Up 0.4 %

Shares of NYSE:LMT opened at $584.44 on Tuesday. The business’s 50 day simple moving average is $558.55 and its 200 day simple moving average is $495.31. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $584.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market capitalization of $140.23 billion, a P/E ratio of 21.38, a P/E/G ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the previous year, the company earned $6.73 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

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.