Journey Beyond Wealth LLC Takes $605,000 Position in Lockheed Martin Co. (NYSE:LMT)

Journey Beyond Wealth LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, Holdings Channel reports. The firm acquired 1,245 shares of the aerospace company’s stock, valued at approximately $605,000. Lockheed Martin accounts for 0.6% of Journey Beyond Wealth LLC’s portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtue Capital Management LLC boosted its position in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares during the period. Hilltop Holdings Inc. boosted its position in Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after acquiring an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake in Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after acquiring an additional 3,247 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the period. Finally, Brady Martz Wealth Solutions LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $1,266,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 in the last 90 days. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. UBS Group reduced their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Citigroup dropped their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Susquehanna reduced their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $544.20.

Lockheed Martin Trading Up 1.8 %

Shares of LMT stock opened at $442.63 on Wednesday. The business’s 50 day moving average is $459.13 and its two-hundred day moving average is $512.63. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The company has a market cap of $104.19 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.98%. Lockheed Martin’s payout ratio is 59.30%.

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.