Sugarloaf Wealth Management LLC Boosts Holdings in Lockheed Martin Co. (NYSE:LMT)

Sugarloaf Wealth Management LLC boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 736 shares of the aerospace company’s stock after purchasing an additional 42 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Lockheed Martin were worth $430,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. grew its position in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares during the last quarter. Legal & General Group Plc grew its position in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after purchasing an additional 119,052 shares during the last quarter. Wulff Hansen & CO. lifted its stake in shares of 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 worth $476,947,000 after acquiring an additional 1,019,281 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of 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 acquiring an additional 218,506 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LMT. Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $568.31.

Lockheed Martin Price Performance

LMT traded down $0.43 during midday trading on Tuesday, reaching $605.11. 161,776 shares of the company’s stock were exchanged, compared to its average volume of 1,060,515. 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 stock has a market capitalization of $145.19 billion, a PE ratio of 22.14, a P/E/G ratio of 4.66 and a beta of 0.47. The business’s 50-day moving average price is $567.27 and its 200 day moving average price is $501.20. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $611.59.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly 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 earnings per share. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.65 EPS 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. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. Lockheed Martin’s payout ratio is 46.10%.

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.