Sterling Investment Counsel LLC Has $448,000 Stake in Lockheed Martin Corporation (NYSE:LMT)

Sterling Investment Counsel LLC raised its position in Lockheed Martin Corporation (NYSE:LMT) by 3.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,002 shares of the aerospace company’s stock after buying an additional 36 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Lockheed Martin were worth $448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Boston Trust Walden Corp boosted its position in Lockheed Martin by 18.9% in the 1st quarter. Boston Trust Walden Corp now owns 32,768 shares of the aerospace company’s stock valued at $14,638,000 after buying an additional 5,220 shares during the last quarter. Janney Capital Management LLC boosted its position in Lockheed Martin by 4.2% in the 1st quarter. Janney Capital Management LLC now owns 638 shares of the aerospace company’s stock valued at $285,000 after buying an additional 26 shares during the last quarter. Montz Harcus Wealth Management LLC boosted its position in Lockheed Martin by 12.5% in the 1st quarter. Montz Harcus Wealth Management LLC now owns 827 shares of the aerospace company’s stock valued at $370,000 after buying an additional 92 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Lockheed Martin by 3.8% in the 1st quarter. State of Alaska Department of Revenue now owns 32,414 shares of the aerospace company’s stock worth $14,478,000 after purchasing an additional 1,195 shares during the last quarter. Finally, MFA Wealth Advisors LLC boosted its position in shares of Lockheed Martin by 14.3% in the 1st quarter. MFA Wealth Advisors LLC now owns 4,775 shares of the aerospace company’s stock worth $2,133,000 after purchasing an additional 598 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LMT. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Bank of America lowered Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Wells Fargo & Company reduced their price target on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Performance

LMT stock opened at $468.27 on Thursday. The business’s 50-day moving average price is $471.66 and its two-hundred day moving average price is $469.27. 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 firm has a market cap of $109.72 billion, a PE ratio of 20.23, a P/E/G ratio of 1.67 and a beta of 0.29. Lockheed Martin Corporation has a 1-year low of $418.88 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. As a group, research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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