Trueblood Wealth Management LLC Buys New Shares in Lockheed Martin Co. (NYSE:LMT)

Trueblood Wealth Management LLC acquired a new stake in Lockheed Martin Co. (NYSE:LMT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,396 shares of the aerospace company’s stock, valued at approximately $633,000.

A number of other hedge funds also recently modified their holdings of LMT. Triumph Capital Management increased its position in shares of Lockheed Martin by 3.1% in the third quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock valued at $296,000 after buying an additional 22 shares in the last quarter. Abbrea Capital LLC lifted its holdings in Lockheed Martin by 1.7% in the 3rd quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock valued at $571,000 after purchasing an additional 23 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in Lockheed Martin by 1.6% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock worth $584,000 after purchasing an additional 23 shares during the last quarter. WBH Advisory Inc. boosted its stake in Lockheed Martin by 1.6% during the 3rd quarter. WBH Advisory Inc. now owns 1,502 shares of the aerospace company’s stock worth $614,000 after purchasing an additional 24 shares during the last quarter. Finally, Elevated Capital Advisors LLC raised its position in shares of Lockheed Martin by 3.5% in the third quarter. Elevated Capital Advisors LLC now owns 709 shares of the aerospace company’s stock valued at $290,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LMT. Royal Bank of Canada cut 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. Susquehanna cut their price objective 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. UBS Group cut their price objective on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. Finally, Morgan Stanley cut 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. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $491.92.

Insider Transactions at Lockheed Martin

In other news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the company’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 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. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Trading Up 2.5 %

Shares of NYSE LMT traded up $10.94 on Wednesday, reaching $456.93. 1,277,347 shares of the company traded hands, compared to its average volume of 1,176,464. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $508.10. The company has a 50 day moving average of $433.46 and a 200 day moving average of $438.35. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $109.89 billion, a PE ratio of 16.59, a P/E/G ratio of 4.08 and a beta of 0.48.

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

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Thursday, February 29th. Lockheed Martin’s payout ratio is currently 45.74%.

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.