Capital Investment Counsel Inc Buys 1,375 Shares of Lockheed Martin Co. (LMT)

Capital Investment Counsel Inc lifted its stake in Lockheed Martin Co. (NYSE:LMT) by 18.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,650 shares of the aerospace company’s stock after acquiring an additional 1,375 shares during the period. Lockheed Martin accounts for 1.1% of Capital Investment Counsel Inc’s portfolio, making the stock its 21st largest position. Capital Investment Counsel Inc’s holdings in Lockheed Martin were worth $2,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Polaris Greystone Financial Group LLC grew its stake in Lockheed Martin by 22.6% during the 3rd quarter. Polaris Greystone Financial Group LLC now owns 867 shares of the aerospace company’s stock worth $300,000 after buying an additional 160 shares during the last quarter. Franklin Street Advisors Inc. NC grew its stake in Lockheed Martin by 0.6% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 26,660 shares of the aerospace company’s stock worth $7,876,000 after buying an additional 168 shares during the last quarter. OLD National Bancorp IN grew its stake in Lockheed Martin by 1.4% during the 2nd quarter. OLD National Bancorp IN now owns 12,154 shares of the aerospace company’s stock worth $3,591,000 after buying an additional 170 shares during the last quarter. Summit Financial Strategies Inc. grew its stake in Lockheed Martin by 19.4% during the 2nd quarter. Summit Financial Strategies Inc. now owns 1,046 shares of the aerospace company’s stock worth $309,000 after buying an additional 170 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC grew its stake in Lockheed Martin by 4.5% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 3,977 shares of the aerospace company’s stock worth $1,376,000 after buying an additional 171 shares during the last quarter. 77.88% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Sanford C. Bernstein boosted their target price on Lockheed Martin from $349.00 to $356.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 25th. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $366.00 target price on the stock in a research note on Wednesday, October 24th. Berenberg Bank upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Finally, Credit Suisse Group dropped their target price on Lockheed Martin from $368.00 to $357.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $376.49.

Lockheed Martin stock opened at $299.42 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46. The stock has a market cap of $82.79 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.06 and a beta of 0.71. Lockheed Martin Co. has a fifty-two week low of $283.21 and a fifty-two week high of $363.00.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.31 by $0.83. The business had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.24 EPS. On average, research analysts forecast that Lockheed Martin Co. will post 17.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be issued a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Friday, November 30th. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s payout ratio is 60.02%.

Lockheed Martin declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

About Lockheed Martin

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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