Financial Counselors Inc. Trims Position in Lockheed Martin Co. (NYSE:LMT)

Financial Counselors Inc. cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 48,751 shares of the aerospace company’s stock after selling 568 shares during the period. Financial Counselors Inc.’s holdings in Lockheed Martin were worth $28,498,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LMT. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC grew its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares during the period. Stephens Consulting LLC increased its holdings in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth $32,000. Finally, Ridgewood Investments LLC acquired a new position in Lockheed Martin in the second quarter valued at $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Citigroup lifted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Susquehanna reduced their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group upped their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Up 0.8 %

LMT stock opened at $525.73 on Thursday. The company’s 50 day simple moving average is $570.39 and its 200-day simple moving average is $528.52. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market capitalization of $124.62 billion, a P/E ratio of 19.03, a P/E/G ratio of 4.27 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $6.77 earnings per share. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

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.