Forefront Wealth Management Inc. Takes $463,000 Position in Lockheed Martin Co. (NYSE:LMT)

Forefront Wealth Management Inc. purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 953 shares of the aerospace company’s stock, valued at approximately $463,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Lockheed Martin in the third quarter valued at about $99,000. Segall Bryant & Hamill LLC acquired a new position in Lockheed Martin in the third quarter valued at about $7,039,000. King Luther Capital Management Corp lifted its position in Lockheed Martin by 1.1% in the third quarter. King Luther Capital Management Corp now owns 7,652 shares of the aerospace company’s stock valued at $4,473,000 after buying an additional 85 shares during the last quarter. Trustmark National Bank Trust Department lifted its position in Lockheed Martin by 5.9% in the third quarter. Trustmark National Bank Trust Department now owns 665 shares of the aerospace company’s stock valued at $389,000 after buying an additional 37 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Lockheed Martin by 9.1% in the third quarter. Pacer Advisors Inc. now owns 27,577 shares of the aerospace company’s stock valued at $16,120,000 after buying an additional 2,298 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LMT shares. Citigroup decreased their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada cut 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 cut their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley cut their price target 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $554.20.

Insider Activity 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 stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value 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. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last three months. 0.14% of the stock is owned by corporate insiders.

Lockheed Martin Stock Performance

Shares of LMT opened at $440.26 on Friday. The stock has a 50 day moving average price of $460.94 and a 200 day moving average price of $515.23. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $103.63 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

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.