First Fiduciary Investment Counsel Inc. Sells 173 Shares of Lockheed Martin Corporation $LMT

First Fiduciary Investment Counsel Inc. lowered its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,052 shares of the aerospace company’s stock after selling 173 shares during the quarter. Lockheed Martin comprises about 2.4% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 20th biggest position. First Fiduciary Investment Counsel Inc.’s holdings in Lockheed Martin were worth $12,066,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new position in Lockheed Martin in the 1st quarter worth $31,000. GFG Capital LLC bought a new position in Lockheed Martin in the 2nd quarter worth $43,000. EQ Wealth Advisors LLC bought a new position in Lockheed Martin in the 1st quarter worth $43,000. Ritter Daniher Financial Advisory LLC DE bought a new position in Lockheed Martin in the 1st quarter worth $45,000. Finally, McIlrath & Eck LLC raised its holdings in Lockheed Martin by 161.0% in the 1st quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company’s stock worth $48,000 after acquiring an additional 66 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $519.00 target price on shares of Lockheed Martin and gave the stock a “hold” rating in a report on Wednesday. Cowen lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. Vertical Research restated a “hold” rating and issued a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Susquehanna raised their price target on shares of Lockheed Martin from $490.00 to $590.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $503.13.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $505.11 on Friday. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The firm’s 50-day simple moving average is $464.89 and its 200-day simple moving average is $462.82. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The firm has a market cap of $117.92 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the business earned $7.11 EPS. The firm’s revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. As a group, research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 1st will be given a dividend of $3.45 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.7%. Lockheed Martin’s dividend payout ratio (DPR) is presently 74.32%.

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.