TruWealth Advisors LLC Has $24.62 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

TruWealth Advisors LLC increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 63.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,116 shares of the aerospace company’s stock after acquiring an additional 16,289 shares during the quarter. Lockheed Martin comprises about 1.5% of TruWealth Advisors LLC’s investment portfolio, making the stock its 21st largest position. TruWealth Advisors LLC’s holdings in Lockheed Martin were worth $24,619,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake 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 during the last quarter. Buck Wealth Strategies LLC bought a new position in Lockheed Martin in the second quarter valued at approximately $6,611,000. Verity & Verity LLC grew its holdings in Lockheed Martin by 3.2% during the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock worth $15,992,000 after acquiring an additional 1,071 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $1,096,000. Finally, New Mexico Educational Retirement Board lifted its stake 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 during the period. Institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’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 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 $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Down 0.5 %

Shares of Lockheed Martin stock opened at $609.69 on Friday. The firm has a market cap of $146.29 billion, a PE ratio of 22.31, a P/E/G ratio of 4.84 and a beta of 0.47. The business’s 50 day simple moving average is $577.08 and its 200 day simple moving average is $509.17. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $614.62.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $6.73 earnings per share. On average, analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.17%. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Analyst Ratings Changes

A number of equities research analysts recently commented on LMT shares. Susquehanna lifted their price objective on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research note on Thursday. Barclays upped their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $597.92.

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.