Salem Investment Counselors Inc. Acquires 96 Shares of Lockheed Martin Co. (NYSE:LMT)

Salem Investment Counselors Inc. increased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,075 shares of the aerospace company’s stock after buying an additional 96 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Lockheed Martin were worth $480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after buying an additional 3,247 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Lockheed Martin during the 4th quarter worth $33,294,000. Private Advisor Group LLC lifted its position in shares of Lockheed Martin by 11.0% during the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock worth $24,906,000 after buying an additional 5,075 shares during the last quarter. State of Wyoming lifted its position in shares of Lockheed Martin by 93.9% during the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock worth $541,000 after buying an additional 539 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Lockheed Martin by 3.9% during the 4th quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock worth $49,893,000 after buying an additional 3,809 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Up 3.5%

Shares of LMT stock opened at $485.75 on Friday. The stock has a market cap of $113.81 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29. The stock has a 50-day moving average of $470.72 and a 200-day moving average of $470.42. 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 Co. has a 1-year low of $418.88 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

Analyst Upgrades and Downgrades

Several research firms have commented on LMT. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their target price for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Finally, Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a research report on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $541.80.

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.