Cornercap Investment Counsel Inc. Has $1.50 Million Position in Lockheed Martin Co. (NYSE:LMT)

Cornercap Investment Counsel Inc. decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,091 shares of the aerospace company’s stock after selling 115 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Lockheed Martin were worth $1,502,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LMT. Fisher Asset Management LLC lifted its stake in shares of Lockheed Martin by 0.9% in the 3rd quarter. Fisher Asset Management LLC now owns 6,742 shares of the aerospace company’s stock valued at $3,941,000 after purchasing an additional 61 shares during the period. Freedom Investment Management Inc. boosted its holdings in Lockheed Martin by 16.7% during the third quarter. Freedom Investment Management Inc. now owns 754 shares of the aerospace company’s stock worth $441,000 after buying an additional 108 shares during the last quarter. Fiduciary Trust Co grew its position in shares of Lockheed Martin by 2.0% during the 3rd quarter. Fiduciary Trust Co now owns 11,781 shares of the aerospace company’s stock worth $6,887,000 after buying an additional 229 shares during the period. Vinva Investment Management Ltd increased its stake in shares of Lockheed Martin by 3.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after acquiring an additional 19 shares during the last quarter. Finally, Carl P. Sherr & Co. LLC raised its position in shares of Lockheed Martin by 113.7% in the 3rd quarter. Carl P. Sherr & Co. LLC now owns 1,423 shares of the aerospace company’s stock valued at $832,000 after acquiring an additional 757 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on LMT. StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Citigroup lowered their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average target price of $539.53.

Insider Activity at Lockheed Martin

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

Lockheed Martin Stock Down 0.2 %

Shares of LMT stock opened at $441.41 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm’s 50-day moving average is $456.49 and its 200-day moving average is $510.73. The stock has a market cap of $103.90 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

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

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.99%. Lockheed Martin’s payout ratio is currently 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.