Mullooly Asset Management Inc. Invests $616,000 in Lockheed Martin Corporation $LMT

Mullooly Asset Management Inc. acquired a new stake in shares of Lockheed Martin Corporation (NYSE:LMT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,233 shares of the aerospace company’s stock, valued at approximately $616,000. Lockheed Martin accounts for 0.2% of Mullooly Asset Management Inc.’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Brighton Jones LLC boosted its position in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after acquiring an additional 191 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Lockheed Martin by 5.4% during the second quarter. Sivia Capital Partners LLC now owns 973 shares of the aerospace company’s stock worth $451,000 after purchasing an additional 50 shares during the period. Integrity Financial Corp WA acquired a new stake in Lockheed Martin during the second quarter valued at approximately $206,000. Schnieders Capital Management LLC. boosted its holdings in Lockheed Martin by 17.3% during the second quarter. Schnieders Capital Management LLC. now owns 1,460 shares of the aerospace company’s stock valued at $676,000 after purchasing an additional 215 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Lockheed Martin by 1.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 31,209 shares of the aerospace company’s stock valued at $14,454,000 after purchasing an additional 393 shares during the period. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on Lockheed Martin from $464.00 to $517.00 and gave the stock a “sell” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Citigroup boosted their target price on shares of Lockheed Martin from $592.00 to $673.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Robert W. Baird increased their target price on shares of Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Finally, DZ Bank downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target for the company. in a report on Tuesday, February 3rd. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $612.50.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $666.30 on Friday. The business has a fifty day moving average of $560.32 and a 200-day moving average of $500.20. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $669.75. The firm has a market cap of $153.30 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.17 and a beta of 0.23.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the prior year, the company earned $7.67 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be given a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s payout ratio is 64.22%.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.