Lockheed Martin Co. (NYSE:LMT) Stake Lessened by Financial Counselors Inc.

Financial Counselors Inc. trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,497 shares of the aerospace company’s stock after selling 1,254 shares during the period. Financial Counselors Inc.’s holdings in Lockheed Martin were worth $23,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of Lockheed Martin by 42.9% in the 3rd quarter. Larson Financial Group LLC now owns 630 shares of the aerospace company’s stock worth $368,000 after purchasing an additional 189 shares during the last quarter. Fisher Asset Management LLC grew its position in Lockheed Martin by 0.9% in the third quarter. Fisher Asset Management LLC now owns 6,742 shares of the aerospace company’s stock worth $3,941,000 after buying an additional 61 shares during the last quarter. Bank of Hawaii lifted its position in shares of Lockheed Martin by 8.1% during the 3rd quarter. Bank of Hawaii now owns 492 shares of the aerospace company’s stock valued at $288,000 after acquiring an additional 37 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Lockheed Martin in the 3rd quarter worth $1,003,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Lockheed Martin by 51.9% during the third quarter. Brown Brothers Harriman & Co. now owns 8,378 shares of the aerospace company’s stock valued at $4,897,000 after purchasing an additional 2,861 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Up 1.8 %

Shares of NYSE:LMT opened at $442.63 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $104.19 billion, a PE ratio of 19.88, 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 firm has a fifty day moving average price of $459.13 and a 200 day moving average price of $512.63.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. Lockheed Martin’s payout ratio is presently 59.30%.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley lowered their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $544.20.

Insider Buying and Selling

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last quarter. 0.17% of the stock is currently owned by company insiders.

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.