Centric Wealth Management Makes New $1.48 Million Investment in Lockheed Martin Co. (NYSE:LMT)

Centric Wealth Management bought a new position in Lockheed Martin Co. (NYSE:LMT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,043 shares of the aerospace company's stock, valued at approximately $1,479,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Arete Wealth Advisors LLC bought a new position in shares of Lockheed Martin during the third quarter valued at $1,840,000. Edgestream Partners L.P. lifted its stake in Lockheed Martin by 15.7% during the 3rd quarter. Edgestream Partners L.P. now owns 3,667 shares of the aerospace company's stock valued at $2,144,000 after acquiring an additional 497 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $82,000. Alerus Financial NA bought a new stake in shares of Lockheed Martin in the third quarter worth approximately $202,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at approximately $498,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.17% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup lowered their target price on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating on the stock in a report on Tuesday, January 21st. StockNews.com lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Tuesday. Melius downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Wells Fargo & Company reissued an "equal weight" rating on shares of Lockheed Martin in a research report on Monday, March 10th. Finally, Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of "Hold" and an average price target of $539.53.

Lockheed Martin Stock Up 1.0 %

Shares of LMT stock traded up $4.28 during trading hours on Wednesday, reaching $452.92. 1,268,982 shares of the company's stock were exchanged, compared to its average volume of 1,210,031. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market cap of $106.61 billion, a PE ratio of 20.35, a PEG ratio of 2.07 and a beta of 0.43. The stock's fifty day moving average price is $454.45 and its two-hundred day moving average price is $508.19.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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 year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. Lockheed Martin's payout ratio is 59.30%.

Lockheed Martin Company Profile

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.