Chronos Wealth Management LLC Increases Position in Lockheed Martin Co. (NYSE:LMT)

Chronos Wealth Management LLC lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,744 shares of the aerospace company’s stock after purchasing an additional 113 shares during the quarter. Lockheed Martin comprises approximately 2.9% of Chronos Wealth Management LLC’s holdings, making the stock its 15th largest position. Chronos Wealth Management LLC’s holdings in Lockheed Martin were worth $5,707,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after acquiring an additional 249,591 shares in the last quarter. Wellington Management Group LLP raised its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the last quarter. FMR LLC boosted its stake in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth $77,376,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LMT shares. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. TD Cowen lifted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Morgan Stanley reduced their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Trading Down 1.0 %

Shares of NYSE:LMT opened at $444.05 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 company has a market capitalization of $104.52 billion, a PE ratio of 19.95, a P/E/G ratio of 2.12 and a beta of 0.48. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The business’s fifty day simple moving average is $486.55 and its 200-day simple moving average is $535.81.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.97%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

About Lockheed Martin

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.