Sterling Investment Counsel LLC Buys 36 Shares of Lockheed Martin Corporation (NYSE:LMT)

Sterling Investment Counsel LLC lifted its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,002 shares of the aerospace company’s stock after acquiring an additional 36 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Lockheed Martin were worth $448,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in Lockheed Martin during the 4th quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin during the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter valued at approximately $35,000. Redwood Park Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Lockheed Martin during the 4th quarter valued at approximately $42,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LMT. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their target price for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. 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 note on Wednesday, April 16th. Royal Bank Of Canada cut Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Trading Down 2.3%

Shares of LMT opened at $468.27 on Thursday. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The stock has a 50 day simple moving average of $471.66 and a 200-day simple moving average of $469.27. The stock has a market cap of $109.72 billion, a PE ratio of 20.23, a PEG ratio of 1.67 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The business had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. On average, sell-side analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.82%. Lockheed Martin’s dividend payout ratio is 57.02%.

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.