Capital Investment Counsel LLC Sells 864 Shares of Lockheed Martin Corporation $LMT

Capital Investment Counsel LLC trimmed its holdings in Lockheed Martin Corporation (NYSE:LMT) by 32.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,831 shares of the aerospace company’s stock after selling 864 shares during the quarter. Capital Investment Counsel LLC’s holdings in Lockheed Martin were worth $914,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC boosted its position in shares of Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 40 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in Lockheed Martin in the 3rd quarter worth $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Lockheed Martin in the 2nd quarter worth $28,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Lockheed Martin during the 2nd quarter valued at about $29,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Lockheed Martin during the third quarter valued at about $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LMT. Susquehanna reissued a “positive” rating and set a $660.00 price target on shares of Lockheed Martin in a research note on Thursday, January 15th. UBS Group upped their price objective on Lockheed Martin from $580.00 to $663.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Weiss Ratings raised shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $515.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $654.00 price target on shares of Lockheed Martin in a research note on Friday, February 6th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $612.50.

Lockheed Martin Stock Performance

NYSE:LMT opened at $637.25 on Friday. The firm has a market capitalization of $146.62 billion, a PE ratio of 29.65, a PEG ratio of 1.14 and a beta of 0.23. The stock’s fifty day moving average is $541.42 and its 200 day moving average is $492.08. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $646.59. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the firm earned $7.67 EPS. The company’s revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is 64.22%.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.