Sigma Investment Counselors Inc. Sells 28 Shares of Lockheed Martin Co. (NYSE:LMT)

Sigma Investment Counselors Inc. reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 857 shares of the aerospace company’s stock after selling 28 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Lockheed Martin were worth $501,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Bank of Stockton bought a new stake in Lockheed Martin during the third quarter worth approximately $372,000. Tandem Capital Management Corp ADV increased its stake in Lockheed Martin by 5.3% during the third quarter. Tandem Capital Management Corp ADV now owns 1,011 shares of the aerospace company’s stock worth $591,000 after acquiring an additional 51 shares during the last quarter. Canal Capital Management LLC increased its stake in Lockheed Martin by 3.5% during the third quarter. Canal Capital Management LLC now owns 15,425 shares of the aerospace company’s stock worth $9,017,000 after acquiring an additional 527 shares during the last quarter. Ballentine Partners LLC increased its stake in Lockheed Martin by 4.9% during the third quarter. Ballentine Partners LLC now owns 3,772 shares of the aerospace company’s stock worth $2,205,000 after acquiring an additional 176 shares during the last quarter. Finally, Financial Partners Group LLC increased its stake in Lockheed Martin by 8.0% during the third quarter. Financial Partners Group LLC now owns 19,798 shares of the aerospace company’s stock worth $11,573,000 after acquiring an additional 1,472 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Down 0.3 %

Shares of NYSE LMT opened at $562.29 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The firm has a market capitalization of $134.03 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47. The stock has a 50 day moving average price of $580.07 and a 200 day moving average price of $514.62. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.77 earnings per share. Sell-side analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Wall Street Analyst Weigh In

LMT has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Citigroup boosted their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Bank of America restated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Susquehanna dropped their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin 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.