Carnegie Investment Counsel Increases Position in Lockheed Martin Co. (NYSE:LMT)

Carnegie Investment Counsel grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,635 shares of the aerospace company’s stock after purchasing an additional 128 shares during the quarter. Carnegie Investment Counsel’s holdings in Lockheed Martin were worth $16,739,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Able Wealth Management LLC acquired a new position in Lockheed Martin in the fourth quarter valued at approximately $45,000. Garde Capital Inc. acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $101,000. Sierra Summit Advisors LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $291,000. Chicago Partners Investment Group LLC raised its holdings in Lockheed Martin by 1.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,626 shares of the aerospace company’s stock valued at $702,000 after buying an additional 27 shares during the period. Finally, Syon Capital LLC lifted its position in Lockheed Martin by 33.3% in the fourth quarter. Syon Capital LLC now owns 2,394 shares of the aerospace company’s stock valued at $1,085,000 after buying an additional 598 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research analyst reports. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. TD Cowen raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. UBS Group increased their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $581.77.

Lockheed Martin Trading Up 1.1 %

LMT opened at $604.17 on Friday. The company has a market cap of $144.96 billion, a P/E ratio of 22.11, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $611.59. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The business’s 50-day simple moving average is $572.03 and its 200-day simple moving average is $505.23.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. During the same quarter in the previous year, the firm earned $6.73 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 48.30%.

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.