Cahaba Wealth Management Inc. Has $380,000 Holdings in Lockheed Martin Co. (NYSE:LMT)

Cahaba Wealth Management Inc. boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 650 shares of the aerospace company’s stock after buying an additional 42 shares during the period. Cahaba Wealth Management Inc.’s holdings in Lockheed Martin were worth $380,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC acquired a new stake in Lockheed Martin during the second quarter worth about $6,611,000. Verity & Verity LLC lifted its holdings in shares of Lockheed Martin by 3.2% in the second 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 last quarter. Watts Gwilliam & Co. LLC bought a new position in shares of Lockheed Martin in the third quarter worth about $1,096,000. Finally, New Mexico Educational Retirement Board lifted its holdings in shares of Lockheed Martin by 20.5% in the first quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after acquiring an additional 2,400 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays increased their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company increased their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $597.92.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’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 transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Up 0.4 %

Lockheed Martin stock traded up $2.19 during mid-day trading on Friday, hitting $611.81. 864,086 shares of the stock were exchanged, compared to its average volume of 1,047,170. 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 12 month low of $413.92 and a 12 month high of $614.62. The firm’s fifty day simple moving average is $578.29 and its two-hundred day simple moving average is $510.27. The stock has a market capitalization of $146.80 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the business earned $6.73 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current 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 given a dividend of $3.30 per share. This is an increase 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 2.16%. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

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.