Capital Investment Counsel Inc Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Capital Investment Counsel Inc lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,334 shares of the aerospace company’s stock after selling 763 shares during the period. Lockheed Martin comprises 1.0% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 18th biggest position. Capital Investment Counsel Inc’s holdings in Lockheed Martin were worth $6,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Mattern Capital Management LLC increased its stake in shares of Lockheed Martin by 0.3% during the fourth quarter. Mattern Capital Management LLC now owns 19,546 shares of the aerospace company’s stock worth $9,498,000 after purchasing an additional 57 shares in the last quarter. Forte Capital LLC ADV increased its stake in shares of Lockheed Martin by 26.3% during the fourth quarter. Forte Capital LLC ADV now owns 1,769 shares of the aerospace company’s stock worth $859,000 after purchasing an additional 368 shares in the last quarter. Boston Financial Mangement LLC increased its stake in shares of Lockheed Martin by 0.6% during the fourth quarter. Boston Financial Mangement LLC now owns 74,173 shares of the aerospace company’s stock worth $36,044,000 after purchasing an additional 435 shares in the last quarter. Advyzon Investment Management LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $463,000. Finally, Emerald Advisors LLC boosted its position in Lockheed Martin by 4.7% during the fourth quarter. Emerald Advisors LLC now owns 2,033 shares of the aerospace company’s stock worth $988,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $436.47 on Friday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market capitalization of $102.74 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.03 and a beta of 0.48. The company’s 50-day moving average is $471.01 and its two-hundred day moving average is $529.69. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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%. Analysts forecast that Lockheed Martin Co. will post 27.14 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 3.02%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LMT. Susquehanna lowered their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Wells Fargo & Company lowered their price target on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $555.60.

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.