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

49 Wealth Management LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 18.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 639 shares of the aerospace company’s stock after purchasing an additional 99 shares during the period. 49 Wealth Management LLC’s holdings in Lockheed Martin were worth $311,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LMT. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after acquiring an additional 3,247 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth approximately $33,294,000. Private Advisor Group LLC raised its stake in shares of Lockheed Martin by 11.0% during the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock worth $24,906,000 after acquiring an additional 5,075 shares in the last quarter. Confluence Wealth Services Inc. raised its stake in shares of Lockheed Martin by 174.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,176 shares of the aerospace company’s stock worth $1,579,000 after acquiring an additional 2,017 shares in the last quarter. Finally, Soltis Investment Advisors LLC raised its stake in shares of Lockheed Martin by 42.5% during the 4th quarter. Soltis Investment Advisors LLC now owns 13,935 shares of the aerospace company’s stock worth $6,772,000 after acquiring an additional 4,159 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The shares were 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 approximately $1,008,265.58. This represents a 23.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LMT has been the subject of several recent analyst reports. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. UBS Group upped their price target on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 23rd. Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Susquehanna cut their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Stock Down 1.2%

NYSE:LMT opened at $470.35 on Thursday. The firm has a market capitalization of $110.20 billion, a P/E ratio of 21.13, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company’s fifty day moving average price is $461.64 and its 200-day moving average price is $478.52. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.81%. Lockheed Martin’s payout ratio is currently 57.02%.

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.