Modern Wealth Management LLC Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Modern Wealth Management LLC raised its holdings in Lockheed Martin Co. (NYSE:LMT) by 33.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,039 shares of the aerospace company’s stock after acquiring an additional 263 shares during the quarter. Modern Wealth Management LLC’s holdings in Lockheed Martin were worth $466,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in Lockheed Martin during the 4th quarter valued at approximately $32,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter worth $35,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth $42,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.7 %

Shares of LMT opened at $442.27 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a market cap of $104.10 billion, a P/E ratio of 19.87, a PEG ratio of 2.07 and a beta of 0.43. The stock’s 50 day moving average is $457.47 and its two-hundred day moving average is $511.67. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insider Buying and Selling

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LMT shares. UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the stock from $685.00 to $485.00 in a report on Monday. Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $539.53.

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.