WealthPlan Investment Management LLC lowered its stake in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 36.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,247 shares of the aerospace company’s stock after selling 7,527 shares during the period. WealthPlan Investment Management LLC’s holdings in Lockheed Martin were worth $6,407,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. United Financial Planning Group LLC bought a new stake in Lockheed Martin in the third quarter valued at $25,000. Grey Fox Wealth Advisors LLC bought a new stake in Lockheed Martin in the third quarter valued at $27,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Lockheed Martin in the third quarter valued at $35,000. Beacon Financial Strategies CORP bought a new stake in Lockheed Martin in the fourth quarter valued at $34,000. Finally, Wexford Capital LP bought a new stake in Lockheed Martin in the third quarter valued at $36,000. Institutional investors own 74.19% of the company’s stock.
Lockheed Martin Stock Performance
Shares of Lockheed Martin stock opened at $516.25 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.94 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $119.03 billion, a P/E ratio of 25.00, a P/E/G ratio of 0.93 and a beta of 0.10. The business has a fifty day simple moving average of $590.88 and a two-hundred day simple moving average of $554.68. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $692.00.
Lockheed Martin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be given a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 1st. Lockheed Martin’s payout ratio is currently 66.83%.
Analysts Set New Price Targets
Several analysts recently weighed in on LMT shares. Wells Fargo & Company started coverage on shares of Lockheed Martin in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $650.00 price target on the stock. Sanford C. Bernstein lifted their price target on shares of Lockheed Martin from $654.00 to $661.00 and gave the company a “market perform” rating in a report on Tuesday, April 21st. Argus lifted their price target on shares of Lockheed Martin from $530.00 to $735.00 and gave the company a “buy” rating in a report on Friday, March 6th. Wall Street Zen lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, BNP Paribas Exane lowered their price objective on Lockheed Martin from $770.00 to $680.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $628.63.
Check Out Our Latest Report on Lockheed Martin
Lockheed Martin Profile
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.
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