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

Chronos Wealth Management LLC boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,744 shares of the aerospace company’s stock after acquiring an additional 113 shares during the quarter. Lockheed Martin accounts for about 2.9% of Chronos Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. Chronos Wealth Management LLC’s holdings in Lockheed Martin were worth $5,707,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after acquiring an additional 249,591 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. FMR LLC boosted its stake in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $77,376,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LMT. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. TD Cowen boosted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company decreased their price objective on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a report on Thursday, January 30th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Susquehanna lowered their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Stock Down 1.0 %

LMT opened at $444.05 on Friday. The business has a 50 day simple moving average of $486.55 and a 200-day simple moving average of $535.81. The stock has a market capitalization of $104.52 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.12 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities analysts anticipate that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.