Riverbend Wealth Management LLC Makes New Investment in Lockheed Martin Co. (NYSE:LMT)

Riverbend Wealth Management LLC purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 962 shares of the aerospace company's stock, valued at approximately $471,000.

Several other large investors have also made changes to their positions in the company. Virtue Capital Management LLC increased its holdings in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock worth $1,315,000 after acquiring an additional 1,192 shares in the last quarter. Bank of Montreal Can boosted its position in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock valued at $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. boosted its position in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock valued at $7,054,000 after purchasing an additional 5,361 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its position in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock valued at $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its position in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock valued at $44,770,000 after purchasing an additional 2,011 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts recently commented on LMT shares. UBS Group reduced their price target on Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. StockNews.com cut Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Finally, Barclays cut their price objective on 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 analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $554.20.

Lockheed Martin Price Performance

Lockheed Martin stock traded down $9.77 during mid-day trading on Tuesday, reaching $469.40. 1,456,763 shares of the company were exchanged, compared to its average volume of 1,120,436. The company has a fifty day simple moving average of $462.46 and a 200-day simple moving average of $520.20. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. 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 $110.49 billion, a PE ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 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%. As a group, equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share 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. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin's payout ratio is 59.30%.

Insider Activity

In related 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 transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm'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 in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company's stock.

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.