DKM Wealth Management Inc. Invests $790,000 in Lockheed Martin Co. (NYSE:LMT)

DKM Wealth Management Inc. bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,626 shares of the aerospace company’s stock, valued at approximately $790,000. Lockheed Martin accounts for 0.7% of DKM Wealth Management Inc.’s holdings, making the stock its 19th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $26,000. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $35,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $42,000. Institutional investors own 74.19% of the company’s stock.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated 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 directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

LMT opened at $448.39 on Wednesday. The company has a market cap of $105.55 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 firm’s 50-day moving average price is $454.45 and its 200-day moving average price is $508.19. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.94%. Lockheed Martin’s payout ratio is presently 59.30%.

Analyst Ratings Changes

Several equities analysts have commented on LMT shares. Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $539.53.

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.