Cornercap Investment Counsel Inc. Sells 1,450 Shares of Lockheed Martin Co. (NYSE:LMT)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 31.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,206 shares of the aerospace company's stock after selling 1,450 shares during the period. Lockheed Martin accounts for approximately 0.6% of Cornercap Investment Counsel Inc.'s holdings, making the stock its 17th biggest position. Cornercap Investment Counsel Inc.'s holdings in Lockheed Martin were worth $1,874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blair William & Co. IL lifted its position in shares of Lockheed Martin by 8.8% in the 1st quarter. Blair William & Co. IL now owns 31,819 shares of the aerospace company's stock valued at $14,474,000 after acquiring an additional 2,563 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Lockheed Martin by 27.9% during the 1st quarter. Intech Investment Management LLC now owns 64,208 shares of the aerospace company's stock valued at $29,206,000 after purchasing an additional 14,018 shares during the last quarter. Spirepoint Private Client LLC bought a new position in Lockheed Martin during the 1st quarter valued at about $6,591,000. TIAA Trust National Association lifted its holdings in Lockheed Martin by 3.5% during the 1st quarter. TIAA Trust National Association now owns 9,811 shares of the aerospace company's stock valued at $4,463,000 after purchasing an additional 334 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in Lockheed Martin in the 1st quarter valued at about $2,325,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded down $4.16 during trading hours on Friday, hitting $534.83. 1,753,201 shares of the company were exchanged, compared to its average volume of 1,063,398. The business has a 50-day moving average of $577.16 and a 200-day moving average of $523.91. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a market capitalization of $126.78 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 4.56 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the firm earned $6.77 EPS. The business's revenue was up 1.3% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, December 2nd. Lockheed Martin's dividend payout ratio is currently 45.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Morgan Stanley raised their target price on shares of 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 raised their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Melius upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Finally, Bank of America reiterated a "buy" rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $611.00.

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.