GUNN & Co INVESTMENT MANAGEMENT INC. Increases Stake in Lockheed Martin Co. (NYSE:LMT)

GUNN & Co INVESTMENT MANAGEMENT INC. raised its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1,454.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,329 shares of the aerospace company’s stock after acquiring an additional 75,161 shares during the quarter. Lockheed Martin makes up 2.4% of GUNN & Co INVESTMENT MANAGEMENT INC.’s portfolio, making the stock its 19th largest holding. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Lockheed Martin were worth $36,408,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of LMT. Chicago Capital LLC boosted its position in shares of Lockheed Martin by 12.7% in the third quarter. Chicago Capital LLC now owns 1,595 shares of the aerospace company’s stock worth $652,000 after purchasing an additional 180 shares during the period. Concord Wealth Partners increased its stake in Lockheed Martin by 100.7% in the 3rd quarter. Concord Wealth Partners now owns 3,175 shares of the aerospace company’s stock worth $1,299,000 after buying an additional 1,593 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Lockheed Martin by 3.3% during the third quarter. Lindbrook Capital LLC now owns 876 shares of the aerospace company’s stock valued at $358,000 after acquiring an additional 28 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Lockheed Martin by 22.0% in the third quarter. Verdence Capital Advisors LLC now owns 2,718 shares of the aerospace company’s stock valued at $1,112,000 after acquiring an additional 490 shares in the last quarter. Finally, Keating Investment Counselors Inc. boosted its stake in shares of Lockheed Martin by 1.4% in the third quarter. Keating Investment Counselors Inc. now owns 17,722 shares of the aerospace company’s stock worth $7,248,000 after acquiring an additional 252 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup lifted their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group boosted their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company raised their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. The Goldman Sachs Group reduced their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $485.40.

Insider Buying and Selling

In other news, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock worth $7,249,946 over the last three months. 0.17% of the stock is owned by insiders.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $461.91 on Friday. The firm has a fifty day simple moving average of $447.42 and a two-hundred day simple moving average of $445.38. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $479.50. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $110.83 billion, a P/E ratio of 16.90, a PEG ratio of 4.24 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same quarter last year, the business posted $6.43 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. On average, analysts expect that Lockheed Martin Co. will post 26.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Monday, June 3rd. This represents a $12.60 annualized dividend and a yield of 2.73%. Lockheed Martin’s payout ratio is presently 46.10%.

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.