Meridian Wealth Management LLC Increases Position in Lockheed Martin Co. (NYSE:LMT)

Meridian Wealth Management LLC grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 27.7% during the fourth quarter, HoldingsChannel reports. The firm owned 6,085 shares of the aerospace company’s stock after acquiring an additional 1,319 shares during the period. Meridian Wealth Management LLC’s holdings in Lockheed Martin were worth $2,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter worth approximately $26,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $35,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin during the 3rd quarter worth $40,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter valued at about $42,000. Finally, Vestor Capital LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at about $46,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $451.44 on Tuesday. The stock has a market capitalization of $106.26 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business has a 50-day moving average of $465.09 and a 200 day moving average of $524.06. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LMT shares. Morgan Stanley reduced their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Susquehanna decreased their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Royal Bank of Canada reduced their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $553.67.

About Lockheed Martin

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.