Eliot Finkel Investment Counsel LLC Has $3.90 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Eliot Finkel Investment Counsel LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,020 shares of the aerospace company’s stock after selling 55 shares during the quarter. Lockheed Martin accounts for about 2.5% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 18th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Lockheed Martin were worth $3,897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the 3rd quarter valued at about $26,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter valued at about $35,000. Capital Performance Advisors LLP purchased a new position in Lockheed Martin during the 3rd quarter valued at about $40,000. Legacy Investment Solutions LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at about $42,000. Finally, Vestor Capital LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LMT has been the topic of several research analyst reports. Susquehanna lowered their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating for the company in a research note on Wednesday. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $553.67.

Lockheed Martin Stock Up 0.8 %

Shares of LMT stock opened at $450.19 on Friday. The stock has a 50 day moving average of $465.79 and a 200-day moving average of $525.10. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market cap of $105.97 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.93%. Lockheed Martin’s payout ratio is 59.30%.

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.