Parkshore Wealth Management Inc. Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Parkshore Wealth Management Inc. bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,909 shares of the aerospace company's stock, valued at approximately $1,900,000. Lockheed Martin accounts for approximately 1.1% of Parkshore Wealth Management Inc.'s investment portfolio, making the stock its 21st largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the fourth quarter valued at about $35,000. Redwood Park Advisors LLC acquired a new position in shares of Lockheed Martin during the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LMT shares. Barclays decreased their price objective on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. UBS Group boosted their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Melius cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Susquehanna dropped their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of "Moderate Buy" and a consensus price target of $544.79.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $477.82 on Monday. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95. The stock's fifty day moving average price is $455.79 and its two-hundred day moving average price is $490.90. 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 market cap of $112.08 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.76%. Lockheed Martin's payout ratio is presently 57.02%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction on 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred 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 completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at approximately $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 worth $3,155,916. 0.14% of the stock is currently owned by insiders.

Lockheed Martin 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.

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