IMG Wealth Management Inc. Buys New Stake in Lockheed Martin Co. (NYSE:LMT)

IMG Wealth Management Inc. bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, Holdings Channel.com reports. The fund bought 170 shares of the aerospace company’s stock, valued at approximately $83,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the third quarter worth $26,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the third quarter worth $42,000. Sugar Maple Asset Management LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth $47,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth $52,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT opened at $467.07 on Monday. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The stock has a market cap of $109.94 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. 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 firm has a fifty day moving average price of $461.39 and a 200 day moving average price of $518.19.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.83%. Lockheed Martin’s payout ratio is 59.30%.

Analyst Ratings Changes

Several research firms have commented on LMT. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Morgan Stanley lowered their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

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.