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

Connecticut Wealth Management LLC increased its position in Lockheed Martin Co. (NYSE:LMT) by 19.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 759 shares of the aerospace company’s stock after buying an additional 122 shares during the period. Connecticut Wealth Management LLC’s holdings in Lockheed Martin were worth $344,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Herold Advisors Inc. increased its position in Lockheed Martin by 8.6% during the third quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock worth $1,410,000 after purchasing an additional 274 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Lockheed Martin by 3.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock worth $8,624,000 after acquiring an additional 770 shares in the last quarter. Alethea Capital Management LLC acquired a new stake in shares of Lockheed Martin in the third quarter worth $415,000. New Mexico Educational Retirement Board increased its position in shares of Lockheed Martin by 6.4% in the third quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock worth $4,784,000 after acquiring an additional 700 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its position in shares of Lockheed Martin by 22.8% in the third quarter. Gilbert & Cook Inc. now owns 1,275 shares of the aerospace company’s stock worth $521,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LMT shares. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. Morgan Stanley dropped their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. The Goldman Sachs Group dropped their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. Finally, UBS Group upped their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Stock Up 0.1 %

NYSE LMT traded up $0.28 during trading hours on Monday, reaching $462.19. 377,708 shares of the company traded hands, compared to its average volume of 1,144,144. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $110.90 billion, a PE ratio of 16.90, a PEG ratio of 4.23 and a beta of 0.46. The company has a 50 day moving average of $447.42 and a two-hundred day moving average of $445.41.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The company had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.43 earnings per share. As a group, equities analysts expect that Lockheed Martin Co. will post 26.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Monday, June 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.73%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insiders Place Their Bets

In related news, COO John Frank A. St sold 6,648 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO John Frank A. St sold 6,648 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.14% of the company’s stock.

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.