Carnegie Investment Counsel Sells 2,833 Shares of Lockheed Martin Corporation (NYSE:LMT)

Carnegie Investment Counsel cut its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,810 shares of the aerospace company's stock after selling 2,833 shares during the period. Carnegie Investment Counsel's holdings in Lockheed Martin were worth $11,571,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after purchasing an additional 1,986,600 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of Lockheed Martin during the fourth quarter worth approximately $526,587,000. Leigh Baldwin & CO. LLC bought a new position in shares of Lockheed Martin during the fourth quarter worth approximately $451,985,000. Capital Research Global Investors bought a new position in shares of Lockheed Martin during the fourth quarter worth approximately $229,987,000. Finally, Demars Financial Group LLC increased its holdings in shares of Lockheed Martin by 47,002.5% during the fourth quarter. Demars Financial Group LLC now owns 433,343 shares of the aerospace company's stock worth $210,579,000 after purchasing an additional 432,423 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on LMT shares. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Sanford C. Bernstein set a $551.00 price target on shares of Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a report on Wednesday, April 16th. Robert W. Baird dropped their target price on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday. Fifteen analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Price Performance

NYSE LMT traded up $1.05 on Friday, hitting $421.60. The stock had a trading volume of 2,458,783 shares, compared to its average volume of 1,823,272. Lockheed Martin Corporation has a 52-week low of $410.11 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.91 and a current ratio of 0.98. The company has a market capitalization of $98.43 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.45 and a beta of 0.28. The firm has a 50-day moving average of $465.80 and a 200-day moving average of $462.67.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.57 by $0.72. The business had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. Lockheed Martin's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.11 earnings per share. Equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is 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.