Horrell Capital Management Inc. Has $7.03 Million Stake in Lockheed Martin Corporation $LMT

Horrell Capital Management Inc. lessened its position in Lockheed Martin Corporation (NYSE:LMT) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,091 shares of the aerospace company’s stock after selling 1,257 shares during the period. Lockheed Martin comprises approximately 2.9% of Horrell Capital Management Inc.’s holdings, making the stock its 11th biggest holding. Horrell Capital Management Inc.’s holdings in Lockheed Martin were worth $7,034,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 40 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in Lockheed Martin during the 3rd quarter valued at $27,000. Mid American Wealth Advisory Group Inc. acquired a new stake in Lockheed Martin during the 2nd quarter valued at $28,000. Twin Peaks Wealth Advisors LLC bought a new position in Lockheed Martin in the 2nd quarter valued at $29,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Lockheed Martin in the third quarter worth $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LMT. Robert W. Baird raised their target price on Lockheed Martin from $550.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Morgan Stanley set a $675.00 price objective on shares of Lockheed Martin in a report on Wednesday, February 4th. Royal Bank Of Canada boosted their target price on shares of Lockheed Martin from $615.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Susquehanna reiterated a “positive” rating and set a $660.00 target price on shares of Lockheed Martin in a research report on Thursday, January 15th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $654.00 price target on shares of Lockheed Martin in a report on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Price Performance

Shares of LMT stock opened at $649.18 on Wednesday. The firm’s 50 day moving average price is $552.83 and its two-hundred day moving average price is $497.97. 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 Corporation has a 52-week low of $410.11 and a 52-week high of $656.34. The stock has a market cap of $149.36 billion, a PE ratio of 30.21, a PEG ratio of 1.18 and a beta of 0.23.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the firm posted $7.67 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be paid a $3.45 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 annualized dividend and a yield of 2.1%. Lockheed Martin’s dividend payout ratio is presently 64.22%.

Lockheed Martin 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.