WealthTrak Capital Management LLC Buys Shares of 250 Lockheed Martin Co. (NYSE:LMT)

WealthTrak Capital Management LLC purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 250 shares of the aerospace company’s stock, valued at approximately $121,000.

A number of other large investors have also made changes to their positions in the business. Virtue Capital Management LLC grew its position in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after purchasing an additional 1,192 shares during the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after buying an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares during the period. Finally, Brady Martz Wealth Solutions LLC purchased a new position in Lockheed Martin in the 4th quarter worth $1,266,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Citigroup decreased 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 report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $539.53.

Lockheed Martin Stock Performance

NYSE LMT opened at $441.41 on Friday. The stock has a market capitalization of $103.90 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.07 and a beta of 0.43. The stock has a 50-day moving average of $456.49 and a 200 day moving average of $510.73. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.99%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling

In related news, VP Harry Edward Paul III sold 707 shares of the business’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 transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s 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. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 in the last 90 days. Insiders own 0.17% of the company’s stock.

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.