Gentry Private Wealth LLC Purchases New Position in Lockheed Martin Co. (NYSE:LMT)

Gentry Private Wealth LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 835 shares of the aerospace company’s stock, valued at approximately $390,000.

A number of other hedge funds also recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares during the period. Dimensional Fund Advisors LP boosted its position in Lockheed Martin by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock valued at $470,536,000 after acquiring an additional 27,349 shares in the last quarter. Capital Research Global Investors boosted its position in Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after acquiring an additional 218,506 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Lockheed Martin by 1.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after acquiring an additional 9,136 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after acquiring an additional 274,680 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research reports. Susquehanna lifted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research report on Tuesday. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday. 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. Finally, JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $566.82 on Friday. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $578.73. The firm has a market cap of $136.00 billion, a P/E ratio of 20.74, a PEG ratio of 4.56 and a beta of 0.46. The company has a 50 day moving average of $524.33 and a 200 day moving average of $478.58. 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 announced its quarterly earnings data 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 company had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the business earned $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’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 directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

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.