Carlton Hofferkamp & Jenks Wealth Management LLC Has $1.26 Million Position in Lockheed Martin Co. (NYSE:LMT)


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Carlton Hofferkamp & Jenks Wealth Management LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,380 shares of the aerospace company’s stock after selling 103 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Lockheed Martin were worth $1,262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMT. Key Financial Inc acquired a new stake in Lockheed Martin in the fourth quarter worth $26,000. Veritas Investment Partners UK Ltd. bought a new position in Lockheed Martin in the fourth quarter valued at $26,000. TRU Independence Asset Management 2 LLC bought a new position in Lockheed Martin in the fourth quarter valued at $29,000. Encompass Wealth Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at $29,000. Finally, ForthRight Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $35,000. Institutional investors own 77.00% of the company’s stock.

In other news, COO John Frank A. St sold 6,855 shares of the business’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $371.95, for a total transaction of $2,549,717.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Maryanne Lavan sold 5,406 shares of Lockheed Martin stock in a transaction dated Thursday, April 22nd. The stock was sold at an average price of $383.84, for a total transaction of $2,075,039.04. In the last three months, insiders sold 15,707 shares of company stock valued at $5,925,208. 0.17% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on LMT. Morgan Stanley boosted their price target on shares of Lockheed Martin from $445.00 to $458.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 27th. Robert W. Baird downgraded shares of Lockheed Martin from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $420.00 to $368.00 in a report on Thursday, January 7th. Cowen reiterated a “buy” rating and set a $410.00 price target on shares of Lockheed Martin in a research report on Thursday, April 22nd. Credit Suisse Group cut their target price on shares of Lockheed Martin from $351.00 to $334.00 in a report on Wednesday, January 27th. Finally, Wolfe Research assumed coverage on Lockheed Martin in a research report on Friday, April 9th. They set a “peer perform” rating for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $427.11.

NYSE:LMT traded up $1.55 during midday trading on Tuesday, hitting $386.86. 16,701 shares of the stock were exchanged, compared to its average volume of 1,834,613. Lockheed Martin Co. has a one year low of $319.81 and a one year high of $417.62. The company has a market capitalization of $107.52 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.98 and a beta of 0.92. The business has a 50-day moving average price of $373.18 and a two-hundred day moving average price of $357.38. The company has a current ratio of 1.33, a quick ratio of 1.12 and a debt-to-equity ratio of 2.34.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Monday, April 19th. The aerospace company reported $6.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.32 by $0.24. Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The business had revenue of $16.26 billion for the quarter, compared to the consensus estimate of $16.42 billion. During the same period in the prior year, the business posted $6.08 earnings per share. Lockheed Martin’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts forecast that Lockheed Martin Co. will post 24.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Tuesday, June 1st will be issued a $2.60 dividend. This represents a $10.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, May 28th. Lockheed Martin’s dividend payout ratio is currently 47.38%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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