Mission Wealth Management LP Boosts Stake in Lockheed Martin Co. (NYSE:LMT)

Mission Wealth Management LP grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,841 shares of the aerospace company’s stock after buying an additional 419 shares during the period. Mission Wealth Management LP’s holdings in Lockheed Martin were worth $2,353,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LMT. UBS Group decreased their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley lowered 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. Susquehanna reduced their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada lowered 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. Finally, Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.67.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on 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 owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, 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 ninety days, insiders have sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

LMT opened at $451.44 on Tuesday. The company has a 50 day moving average of $465.09 and a two-hundred day moving average of $524.06. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-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. The company has a market cap of $106.26 billion, a P/E ratio of 20.28, a P/E/G ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business 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 2.92%. Lockheed Martin’s payout ratio is currently 59.30%.

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.