Lockheed Martin Co. (NYSE:LMT) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,380 shares of the aerospace company’s stock after selling 340 shares during the period. Lockheed Martin makes up about 1.2% of Ironwood Investment Counsel LLC’s holdings, making the stock its 19th biggest holding. Ironwood Investment Counsel LLC’s holdings in Lockheed Martin were worth $6,988,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after buying an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after acquiring an additional 1,132,461 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after acquiring an additional 507,312 shares in the last quarter. Wellington Management Group LLP increased its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, FMR LLC increased its holdings in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $467.90 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $110.14 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The business’s fifty day simple moving average is $461.68 and its 200 day simple moving average is $519.43.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. As a group, analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.82%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Activity at Lockheed Martin

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LMT. Citigroup dropped their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Barclays reduced their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley reduced their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $554.20.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.