Broadway Wealth Solutions Inc. Purchases New Stake in Lockheed Martin Co. (NYSE:LMT)

Broadway Wealth Solutions Inc. purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 520 shares of the aerospace company’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin in the 3rd quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth about $35,000. Finally, Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the third quarter worth $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.7 %

Shares of NYSE:LMT opened at $442.27 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The business’s 50 day simple moving average is $457.47 and its two-hundred day simple moving average is $511.67. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The firm has a market cap of $104.10 billion, a P/E ratio of 19.87, a PEG ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

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 shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on LMT. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Susquehanna dropped their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Finally, Morgan Stanley dropped their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $539.53.

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.