McGlone Suttner Wealth Management Inc. Has $626,000 Stake in Lockheed Martin Co. (NYSE:LMT)

by · The Cerbat Gem

McGlone Suttner Wealth Management Inc. grew its position in Lockheed Martin Co. (NYSE:LMT – Free Report) by 55.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,071 shares of the aerospace company’s stock after purchasing an additional 381 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Lockheed Martin were worth $626,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter valued at $6,611,000. Verity & Verity LLC boosted its holdings in shares of Lockheed Martin by 3.2% in the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after purchasing an additional 1,071 shares in the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after purchasing an additional 2,400 shares in the last quarter. Finally, American National Bank boosted its holdings in shares of Lockheed Martin by 26.8% in the 1st quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock valued at $16,638,000 after purchasing an additional 7,731 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Morgan Stanley increased their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $581.77.

Read Our Latest Analysis on Lockheed Martin

Lockheed Martin Trading Up 1.1 %

Lockheed Martin stock traded up $6.68 during trading hours on Friday, reaching $604.17. 526,025 shares of the company’s stock were exchanged, compared to its average volume of 1,056,277. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm’s 50 day simple moving average is $572.03 and its 200 day simple moving average is $505.23. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $611.59. The firm has a market capitalization of $144.96 billion, a PE ratio of 22.11, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT – Get Free Report) 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. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $6.73 EPS. Research analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. 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 annualized dividend and a dividend yield of 2.18%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The stock was 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 in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Profile

(Free Report)

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.

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