Chase Investment Counsel Corp Purchases New Holdings in Lockheed Martin Corporation $LMT

Chase Investment Counsel Corp purchased a new position in shares of Lockheed Martin Corporation (NYSE:LMT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,760 shares of the aerospace company’s stock, valued at approximately $1,877,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Lockheed Martin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock worth $10,048,993,000 after buying an additional 214,565 shares during the last quarter. Geode Capital Management LLC raised its position in Lockheed Martin by 0.4% in the second quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock worth $2,256,147,000 after acquiring an additional 19,459 shares during the period. Legal & General Group Plc boosted its stake in Lockheed Martin by 0.6% in the second quarter. Legal & General Group Plc now owns 959,510 shares of the aerospace company’s stock valued at $444,387,000 after acquiring an additional 6,073 shares during the last quarter. AQR Capital Management LLC boosted its stake in Lockheed Martin by 6.9% in the second quarter. AQR Capital Management LLC now owns 863,839 shares of the aerospace company’s stock valued at $400,079,000 after acquiring an additional 55,607 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Lockheed Martin by 16.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 761,382 shares of the aerospace company’s stock valued at $347,381,000 after acquiring an additional 108,553 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on LMT shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lockheed Martin from $492.00 to $611.00 and gave the stock a “hold” rating in a report on Friday, January 30th. BNP Paribas Exane lifted their price objective on Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $515.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. DZ Bank cut Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target on the stock. in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada lifted their price target on Lockheed Martin from $615.00 to $650.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and an average target price of $612.50.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $659.80 on Tuesday. The firm has a market capitalization of $151.81 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 1.19 and a beta of 0.23. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $669.75. The business’s 50-day moving average price is $567.39 and its 200-day moving average price is $504.43.

Lockheed Martin (NYSE:LMT) last released its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the firm earned $7.67 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be paid a $3.45 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.1%. Lockheed Martin’s dividend payout ratio is 64.22%.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.