Wellington Wealth Strategies LLC. Purchases New Shares in Lockheed Martin Co. (NYSE:LMT)

Wellington Wealth Strategies LLC. acquired a new position in Lockheed Martin Co. (NYSE:LMT) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 595 shares of the aerospace company’s stock, valued at approximately $271,000.

Several other hedge funds have also modified their holdings of LMT. Hudock Inc. grew its position in shares of Lockheed Martin by 1.3% in the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after purchasing an additional 22 shares during the period. Norris Perne & French LLP MI increased its position in shares of Lockheed Martin by 2.8% during the 4th quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock worth $410,000 after purchasing an additional 25 shares during the last quarter. Genesee Capital Advisors LLC raised its stake in shares of Lockheed Martin by 2.8% in the 4th quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock valued at $419,000 after acquiring an additional 25 shares during the period. Hunter Associates Investment Management LLC lifted its stake in Lockheed Martin by 1.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock worth $912,000 after purchasing an additional 25 shares in the last quarter. Finally, Missouri Trust & Investment Co boosted its holdings in Lockheed Martin by 19.8% during the 4th quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock valued at $68,000 after acquiring an additional 25 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LMT. Royal Bank of Canada raised their price objective on shares of Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, UBS Group boosted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.91.

Lockheed Martin Stock Up 1.0 %

Shares of NYSE LMT traded up $4.96 during midday trading on Friday, reaching $526.36. 724,540 shares of the company’s stock were exchanged, compared to its average volume of 1,082,711. The stock has a market capitalization of $125.46 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 4.80 and a beta of 0.46. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $528.64. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.11 and a current ratio of 1.24. The business’s fifty day moving average price is $468.42 and its two-hundred day moving average price is $453.45.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $6.73 EPS. Analysts forecast that Lockheed Martin Co. will post 26.43 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.39%. Lockheed Martin’s payout ratio is 46.10%.

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.