Connecticut Wealth Management LLC Has $344,000 Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Connecticut Wealth Management LLC increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 759 shares of the aerospace company’s stock after purchasing an additional 122 shares during the period. Connecticut Wealth Management LLC’s holdings in Lockheed Martin were worth $344,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LMT. Bank Julius Baer & Co. Ltd Zurich grew its stake in Lockheed Martin by 73.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 27 shares during the period. Activest Wealth Management grew its stake in Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares during the period. Milestone Investment Advisors LLC acquired a new stake in Lockheed Martin during the third quarter worth approximately $33,000. Providence Capital Advisors LLC acquired a new stake in Lockheed Martin during the third quarter worth approximately $35,000. Finally, Iron Horse Wealth Management LLC grew its stake in Lockheed Martin by 1,925.0% during the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock traded up $0.28 during mid-day trading on Monday, reaching $462.19. 377,708 shares of the company’s stock were exchanged, compared to its average volume of 1,144,144. The business’s fifty day simple moving average is $447.42 and its 200 day simple moving average is $445.41. The firm has a market capitalization of $110.90 billion, a PE ratio of 16.90, a P/E/G ratio of 4.23 and a beta of 0.46. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same period last year, the company posted $6.43 earnings per share. Lockheed Martin’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Monday, June 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insiders Place Their Bets

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the transaction, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold 16,874 shares of company stock valued at $7,249,946 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LMT shares. Wells Fargo & Company increased their price target on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. UBS Group increased their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna dropped their target price on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, January 24th. Citigroup raised their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the company from $475.00 to $518.00 in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Hold” and an average target price of $485.40.

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.