Lockheed Martin Co. (NYSE:LMT) Stock Holdings Trimmed by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,091 shares of the aerospace company’s stock after selling 115 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Lockheed Martin were worth $1,502,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fisher Asset Management LLC raised its holdings in Lockheed Martin by 0.9% during the third quarter. Fisher Asset Management LLC now owns 6,742 shares of the aerospace company’s stock worth $3,941,000 after purchasing an additional 61 shares in the last quarter. Freedom Investment Management Inc. increased its position in shares of Lockheed Martin by 16.7% during the 3rd quarter. Freedom Investment Management Inc. now owns 754 shares of the aerospace company’s stock valued at $441,000 after purchasing an additional 108 shares during the period. Fiduciary Trust Co raised its stake in shares of Lockheed Martin by 2.0% in the 3rd quarter. Fiduciary Trust Co now owns 11,781 shares of the aerospace company’s stock worth $6,887,000 after buying an additional 229 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in shares of Lockheed Martin by 3.0% in the third quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after buying an additional 19 shares during the period. Finally, Carl P. Sherr & Co. LLC grew its holdings in Lockheed Martin by 113.7% during the third quarter. Carl P. Sherr & Co. LLC now owns 1,423 shares of the aerospace company’s stock worth $832,000 after acquiring an additional 757 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

LMT opened at $441.41 on Friday. The stock has a market cap of $103.90 billion, a PE ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The stock’s 50 day simple moving average is $456.49 and its 200-day simple moving average is $510.73. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Analyst Ratings Changes

LMT has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. UBS Group cut their price objective 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. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Finally, Citigroup decreased their price target 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and a consensus price target of $539.53.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred 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 completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Company 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.