Castle Wealth Management LLC Boosts Position in Lockheed Martin Co. (NYSE:LMT)

Castle Wealth Management LLC boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 18.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,342 shares of the aerospace company’s stock after buying an additional 210 shares during the period. Castle Wealth Management LLC’s holdings in Lockheed Martin were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Wetzel Investment Advisors Inc. purchased a new position in Lockheed Martin in the fourth quarter valued at approximately $84,000. Greenleaf Trust grew its position in Lockheed Martin by 7.7% in the fourth quarter. Greenleaf Trust now owns 7,815 shares of the aerospace company’s stock valued at $3,542,000 after acquiring an additional 558 shares in the last quarter. Beaumont Financial Advisors LLC grew its position in Lockheed Martin by 23.1% in the fourth quarter. Beaumont Financial Advisors LLC now owns 1,361 shares of the aerospace company’s stock valued at $617,000 after acquiring an additional 255 shares in the last quarter. Cutler Investment Counsel LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at approximately $355,000. Finally, HTLF Bank acquired a new stake in Lockheed Martin in the fourth quarter valued at approximately $227,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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 legal filing with the SEC, which is available through this hyperlink. In related news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the sale, 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 shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock valued at $7,249,946 over the last 90 days. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Performance

Lockheed Martin stock traded up $8.05 during mid-day trading on Friday, reaching $464.14. The company’s stock had a trading volume of 1,387,507 shares, compared to its average volume of 1,160,425. The firm has a market cap of $111.62 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 4.16 and a beta of 0.48. The business has a 50 day moving average price of $440.00 and a 200-day moving average price of $442.60. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $495.83.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 23rd. The aerospace company reported $7.90 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.64. The firm had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $17.96 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.79 earnings per share. Sell-side analysts predict that Lockheed Martin Co. will post 26.13 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Thursday, February 29th. Lockheed Martin’s dividend payout ratio is presently 45.74%.

Analyst Ratings Changes

Several brokerages have issued reports on LMT. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $475.00 to $518.00 in a research report on Monday. Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. Morgan Stanley lowered their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Susquehanna decreased their price target on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $493.36.

Lockheed Martin Company 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.