Forefront Wealth Management Inc. Takes $463,000 Position in Lockheed Martin Co. (NYSE:LMT)

Forefront Wealth Management Inc. purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 953 shares of the aerospace company’s stock, valued at approximately $463,000.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $32,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin during 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. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 5.7 %

Shares of LMT stock opened at $440.26 on Friday. The stock has a market cap of $103.63 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.07 and a beta of 0.43. The business has a fifty day simple moving average of $460.94 and a 200-day simple moving average of $515.23. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.00%. 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, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LMT shares. Royal Bank of Canada decreased their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

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.