Lockheed Martin Co. (NYSE:LMT) Shares Sold by Chase Investment Counsel Corp

Chase Investment Counsel Corp cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,993 shares of the aerospace company’s stock after selling 221 shares during the quarter. Chase Investment Counsel Corp’s holdings in Lockheed Martin were worth $1,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LMT. Vanguard Group Inc. lifted its stake in Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after purchasing an additional 279,162 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lockheed Martin by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock worth $2,302,388,000 after acquiring an additional 97,916 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Lockheed Martin by 4.0% during the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after purchasing an additional 121,358 shares during the period. Northern Trust Corp lifted its holdings in shares of Lockheed Martin by 4.0% during the third quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock valued at $976,751,000 after purchasing an additional 91,109 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Lockheed Martin by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,973,771 shares of the aerospace company’s stock valued at $807,193,000 after purchasing an additional 46,890 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.9 %

Lockheed Martin stock traded up $4.08 during mid-day trading on Monday, hitting $465.37. 306,835 shares of the company’s stock were exchanged, compared to its average volume of 1,157,191. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50. The stock has a 50 day moving average of $443.74 and a two-hundred day moving average of $444.58. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The stock has a market cap of $111.66 billion, a P/E ratio of 17.04, a P/E/G ratio of 4.22 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same period last year, the business earned $6.43 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin Co. will post 26.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Susquehanna decreased their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada dropped their target price on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Citigroup lifted their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $485.40.

Insider Buying and Selling

In related news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares in the company, valued at $5,434,718.76. The disclosure for this sale can be found here. In the last three months, insiders sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.17% of the company’s stock.

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.