Congress Wealth Management LLC DE Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Congress Wealth Management LLC DE lifted its position in Lockheed Martin Co. (NYSE:LMT) by 35.1% in the fourth quarter, Holdings Channel reports. The firm owned 9,989 shares of the aerospace company’s stock after buying an additional 2,597 shares during the period. Congress Wealth Management LLC DE’s holdings in Lockheed Martin were worth $4,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Horrell Capital Management Inc. lifted its holdings in shares of Lockheed Martin by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 14,917 shares of the aerospace company’s stock worth $7,249,000 after buying an additional 43 shares during the period. Crowley Wealth Management Inc. purchased a new stake in Lockheed Martin in the fourth quarter worth about $505,000. Stevens Capital Management LP purchased a new position in Lockheed Martin during the 4th quarter valued at about $1,968,000. Richwood Investment Advisors LLC raised its holdings in shares of Lockheed Martin by 2.9% in the 4th quarter. Richwood Investment Advisors LLC now owns 3,454 shares of the aerospace company’s stock valued at $1,678,000 after purchasing an additional 98 shares in the last quarter. Finally, Mosley Wealth Management lifted its position in shares of Lockheed Martin by 12.1% in the 4th quarter. Mosley Wealth Management now owns 528 shares of the aerospace company’s stock worth $240,000 after purchasing an additional 57 shares during the period. Institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on 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 transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents 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 worth $3,155,916 over the last three months. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $442.63 on Wednesday. The stock has a 50-day moving average of $459.13 and a two-hundred day moving average of $512.63. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market cap of $104.19 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 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%. As a group, research analysts predict 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. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.98%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LMT shares. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Citigroup cut their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price target for the company from $685.00 to $485.00 in a research report on Monday. JPMorgan Chase & Co. cut their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $544.20.

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.