Modern Wealth Management LLC Purchases 263 Shares of Lockheed Martin Co. (NYSE:LMT)

Modern Wealth Management LLC grew its position in shares of Lockheed Martin Co. (NYSE:LMT) by 33.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,039 shares of the aerospace company’s stock after acquiring an additional 263 shares during the quarter. Modern Wealth Management LLC’s holdings in Lockheed Martin were worth $466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after acquiring an additional 83,997 shares during the last quarter. Wellington Management Group LLP grew its position in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after acquiring an additional 15,085 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after purchasing an additional 1,233,275 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on LMT. Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup dropped their price target 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. Finally, Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the company from $685.00 to $485.00 in a report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $539.53.

Insider Activity

In related news, VP Harry Edward Paul III sold 707 shares of the company’s 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 completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.7 %

LMT opened at $442.27 on Friday. 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 stock’s fifty day moving average is $457.47 and its two-hundred day moving average is $511.67. The company has a market capitalization 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 Co. has a 52 week low of $419.70 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. Analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.98%. Lockheed Martin’s payout ratio is presently 59.30%.

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.