Cornercap Investment Counsel Inc. Sells 1,450 Shares of Lockheed Martin Co. (NYSE:LMT)

Cornercap Investment Counsel Inc. reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 31.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,206 shares of the aerospace company’s stock after selling 1,450 shares during the quarter. Lockheed Martin makes up approximately 0.6% of Cornercap Investment Counsel Inc.’s investment portfolio, making the stock its 17th biggest position. Cornercap Investment Counsel Inc.’s holdings in Lockheed Martin were worth $1,874,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter valued at about $27,000. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC increased its holdings in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. Finally, Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin in the third quarter worth about $32,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Price Performance

Shares of LMT opened at $539.04 on Friday. The firm has a market capitalization of $127.77 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The company’s fifty day moving average price is $577.75 and its 200-day moving average price is $523.80.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the company earned $6.77 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Analyst Upgrades and Downgrades

LMT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $611.00.

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.