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

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

A number of other institutional investors have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC increased its stake in Lockheed Martin by 18.0% during the 4th quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company’s stock valued at $562,000 after purchasing an additional 176 shares in the last quarter. Eagle Capital Management LLC grew its holdings in shares of Lockheed Martin by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company’s stock valued at $5,261,000 after buying an additional 32 shares during the last quarter. Brighton Jones LLC increased its position in shares of Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock worth $1,941,000 after acquiring an additional 191 shares in the last quarter. Hudson Portfolio Management LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth about $256,000. Finally, Consolidated Planning Corp raised its holdings in shares of Lockheed Martin by 5.3% in the 4th quarter. Consolidated Planning Corp now owns 613 shares of the aerospace company’s stock worth $298,000 after acquiring an additional 31 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent research reports. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and cut their target price for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Jefferies Financial Group lowered their price target on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Monday, April 28th. Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective on the stock in a report on Wednesday, April 23rd. Finally, Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine investment 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’s stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $541.80.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $485.75 on Friday. The company has a market capitalization of $113.81 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The company’s 50-day moving average is $470.72 and its 200 day moving average is $470.42. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a fifty-two week low of $418.88 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.72%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

Lockheed Martin Company 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.