Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 27.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,085 shares of the aerospace company’s stock after purchasing an additional 1,319 shares during the quarter. Meridian Wealth Management LLC’s holdings in Lockheed Martin were worth $2,957,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin in the third quarter worth $26,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $35,000. Capital Performance Advisors LLP purchased a new position in Lockheed Martin in the 3rd quarter worth $40,000. Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin during the 3rd quarter worth about $42,000. Finally, Vestor Capital LLC purchased a new stake in Lockheed Martin during the 3rd quarter valued at about $46,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $451.44 on Tuesday. The firm has a market cap of $106.26 billion, a PE ratio of 20.28, a P/E/G ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month 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. The business has a 50-day moving average price of $465.09 and a 200 day moving average price of $524.06.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. Sell-side analysts predict 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. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.92%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LMT. UBS Group reduced their price objective 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. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Barclays cut their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $553.67.

Insider Activity

In related news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, 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 SEC, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $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 a total of 7,133 shares of company stock worth $3,155,916 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

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.