Prestige Wealth Management Group LLC Grows Position in Lockheed Martin Co. (NYSE:LMT)

Prestige Wealth Management Group LLC boosted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,659 shares of the aerospace company’s stock after purchasing an additional 41 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Lockheed Martin were worth $806,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LMT. TIAA Trust National Association grew its stake in shares of Lockheed Martin by 16.1% during the fourth quarter. TIAA Trust National Association now owns 10,757 shares of the aerospace company’s stock valued at $5,227,000 after buying an additional 1,488 shares during the last quarter. Ashton Thomas Securities LLC increased its stake in Lockheed Martin by 5.0% in the fourth quarter. Ashton Thomas Securities LLC now owns 4,734 shares of the aerospace company’s stock worth $2,300,000 after purchasing an additional 225 shares during the period. Princeton Capital Management LLC lifted its position in shares of Lockheed Martin by 13.0% during the fourth quarter. Princeton Capital Management LLC now owns 750 shares of the aerospace company’s stock worth $364,000 after purchasing an additional 86 shares during the last quarter. Modern Wealth Management LLC boosted its stake in shares of Lockheed Martin by 33.9% during the fourth quarter. Modern Wealth Management LLC now owns 1,039 shares of the aerospace company’s stock valued at $466,000 after purchasing an additional 263 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth approximately $311,000. Institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction 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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LMT shares. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $685.00 to $485.00 in a research note on Monday. Citigroup cut their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday. UBS Group decreased their price target 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. Finally, 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 report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $544.20.

Lockheed Martin Stock Down 1.1 %

Lockheed Martin stock opened at $434.72 on Tuesday. The stock’s 50 day moving average price is $459.96 and its 200 day moving average price is $513.50. The company has a market cap of $102.33 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 Co. has a 1-year low of $419.70 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released 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 net margin of 7.51% and a return on equity of 101.47%. On average, sell-side analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm 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 $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 3.04%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

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.