WealthTrak Capital Management LLC Purchases New Position in Lockheed Martin Co. (NYSE:LMT)

WealthTrak Capital Management LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 250 shares of the aerospace company’s stock, valued at approximately $121,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC lifted its position in Lockheed Martin by 0.9% during the third quarter. Fisher Asset Management LLC now owns 6,742 shares of the aerospace company’s stock valued at $3,941,000 after buying an additional 61 shares during the period. Freedom Investment Management Inc. raised its holdings in Lockheed Martin by 16.7% in the third quarter. Freedom Investment Management Inc. now owns 754 shares of the aerospace company’s stock worth $441,000 after buying an additional 108 shares during the last quarter. Fiduciary Trust Co lifted its holdings in shares of Lockheed Martin by 2.0% during the third quarter. Fiduciary Trust Co now owns 11,781 shares of the aerospace company’s stock valued at $6,887,000 after purchasing an additional 229 shares in the last quarter. Vinva Investment Management Ltd boosted its position in shares of Lockheed Martin by 3.0% during the third quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after buying an additional 19 shares during the last quarter. Finally, Carl P. Sherr & Co. LLC increased its holdings in Lockheed Martin by 113.7% in the 3rd quarter. Carl P. Sherr & Co. LLC now owns 1,423 shares of the aerospace company’s stock worth $832,000 after buying an additional 757 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,421,495.46. Following the completion of the transaction, the insider now 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. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last three months. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT stock opened at $441.41 on Friday. The company has a market capitalization of $103.90 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43. The company’s 50-day simple moving average is $456.49 and its two-hundred day simple moving average is $510.73. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. 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 (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LMT. Morgan Stanley lowered their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Barclays dropped their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.