1900 Wealth Management LLC Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

1900 Wealth Management LLC lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 47.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 458 shares of the aerospace company’s stock after selling 417 shares during the quarter. 1900 Wealth Management LLC’s holdings in Lockheed Martin were worth $208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LMT. First Pacific Financial acquired a new stake in shares of Lockheed Martin during the first quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in Lockheed Martin by 73.0% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 27 shares during the period. Altshuler Shaham Ltd purchased a new stake in Lockheed Martin during the 4th quarter valued at about $26,000. Activest Wealth Management increased its holdings in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 60 shares during the period. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at about $33,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $1.35 on Wednesday, hitting $469.66. The company’s stock had a trading volume of 548,748 shares, compared to its average volume of 1,091,300. The company has a market capitalization of $112.69 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 4.27 and a beta of 0.46. The firm has a fifty day moving average price of $456.62 and a 200-day moving average price of $447.11. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $479.50.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same quarter last year, the business earned $6.43 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LMT shares. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. Wells Fargo & Company raised their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Citigroup upped their price target on shares of 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 lifted their price objective for the company from $475.00 to $518.00 in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $485.40.

Insider Buying and Selling at Lockheed Martin

In related news, COO John Frank A. St sold 6,648 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,874 shares of company stock worth $7,249,946. Insiders own 0.14% of the company’s stock.

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.