Chronos Wealth Management LLC Increases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Chronos Wealth Management LLC lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,631 shares of the aerospace company’s stock after buying an additional 70 shares during the quarter. Lockheed Martin makes up about 3.5% of Chronos Wealth Management LLC’s holdings, making the stock its 13th largest position. Chronos Wealth Management LLC’s holdings in Lockheed Martin were worth $6,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Blue Trust Inc. grew its holdings in Lockheed Martin by 61.0% during the 3rd quarter. Blue Trust Inc. now owns 7,712 shares of the aerospace company’s stock valued at $4,508,000 after buying an additional 2,923 shares during the last quarter. Meridian Financial Partners LLC lifted its position in shares of Lockheed Martin by 6.7% in the third quarter. Meridian Financial Partners LLC now owns 480 shares of the aerospace company’s stock valued at $281,000 after acquiring an additional 30 shares in the last quarter. Moss Adams Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin during the third quarter valued at $280,000. Accurate Wealth Management LLC increased its position in Lockheed Martin by 18.9% during the 3rd quarter. Accurate Wealth Management LLC now owns 1,950 shares of the aerospace company’s stock worth $1,180,000 after purchasing an additional 310 shares in the last quarter. Finally, Precedent Wealth Partners LLC raised its stake in Lockheed Martin by 12.3% in the 3rd quarter. Precedent Wealth Partners LLC now owns 2,774 shares of the aerospace company’s stock valued at $1,622,000 after purchasing an additional 304 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LMT. Morgan Stanley raised their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Susquehanna boosted their price target on Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $597.92.

Lockheed Martin Stock Up 0.4 %

Shares of NYSE:LMT opened at $611.76 on Friday. The stock has a 50-day simple moving average of $578.29 and a 200-day simple moving average of $510.27. The stock has a market capitalization of $146.78 billion, a P/E ratio of 22.38, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $614.62. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.73 earnings per share. Equities analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 48.30%.

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.