Jackson Wealth Management LLC Has $7.01 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

Jackson Wealth Management LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,403 shares of the aerospace company’s stock after selling 5,135 shares during the period. Lockheed Martin accounts for approximately 0.9% of Jackson Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Jackson Wealth Management LLC’s holdings in Lockheed Martin were worth $7,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after purchasing an additional 1,349,409 shares during the period. Van ECK Associates Corp boosted its position in Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the period. Franklin Resources Inc. boosted its position in Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after purchasing an additional 336,588 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Lockheed Martin in the first quarter valued at about $151,402,000. Finally, Corient Private Wealth LLC boosted its position in shares of Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after acquiring an additional 274,680 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LMT shares. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Barclays boosted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday. Susquehanna boosted their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, Citigroup boosted their price target on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $526.77.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

NYSE LMT traded down $0.09 during trading on Friday, hitting $548.77. 1,484,756 shares of the company’s stock were exchanged, compared to its average volume of 1,127,651. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market cap of $130.80 billion, a PE ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.46. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $561.12. The stock’s 50 day moving average price is $476.89 and its two-hundred day moving average price is $456.78.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. Research analysts expect that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

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.