Gateway Wealth Partners LLC Has $567,000 Stake in Lockheed Martin Co. (NYSE:LMT)

Gateway Wealth Partners LLC boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 161.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,215 shares of the aerospace company’s stock after acquiring an additional 751 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Lockheed Martin were worth $567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LMT. Ameriprise Financial Inc. boosted its holdings in Lockheed Martin by 1.7% during the second 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 lifted its position in shares of 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 buying an additional 180,074 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares during the last quarter. Wulff Hansen & CO. grew its holdings in shares of Lockheed Martin by 56,626.7% in the second 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. Finally, Capital Research Global Investors increased its position in shares of Lockheed Martin by 29.7% during the first 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 during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.4 %

LMT stock opened at $584.44 on Tuesday. The business’s 50-day moving average price is $558.55 and its 200-day moving average price is $495.31. The stock has a market cap of $140.23 billion, a P/E ratio of 21.38, a PEG ratio of 4.66 and a beta of 0.47. 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 Co. has a twelve month low of $393.77 and a twelve month high of $584.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly 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 business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.73 EPS. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LMT. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Barclays lifted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Finally, Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Company 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.