Jackson Wealth Management LLC Sells 6,293 Shares of Lockheed Martin Co. (NYSE:LMT)

Jackson Wealth Management LLC decreased its position in Lockheed Martin Co. (NYSE:LMT) by 39.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,589 shares of the aerospace company’s stock after selling 6,293 shares during the period. Jackson Wealth Management LLC’s holdings in Lockheed Martin were worth $4,660,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin in the 3rd quarter worth $26,000. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin in the third quarter worth about $32,000. Capital Performance Advisors LLP purchased a new position in Lockheed Martin during the 3rd quarter valued at about $40,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter valued at about $35,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin in the 3rd quarter worth approximately $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.3 %

LMT stock opened at $454.00 on Wednesday. The stock has a market capitalization of $106.87 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.96 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. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a fifty day moving average price of $490.97 and a 200-day moving average price of $537.18.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (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%. Equities analysts forecast that Lockheed Martin Co. will post 27.29 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.91%. Lockheed Martin’s payout ratio is presently 59.30%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LMT. TD Cowen boosted their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, Morgan Stanley cut their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $555.60.

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.