Chase Investment Counsel Corp Invests $1.88 Million in Lockheed Martin Corporation $LMT

Chase Investment Counsel Corp acquired a new stake in Lockheed Martin Corporation (NYSE:LMT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,760 shares of the aerospace company’s stock, valued at approximately $1,877,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC lifted its stake in Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after buying an additional 40 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at $29,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at $35,000. Finally, MTM Investment Management LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter valued at $36,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.2%

Shares of Lockheed Martin stock opened at $659.80 on Tuesday. The company has a market capitalization of $151.81 billion, a P/E ratio of 30.70, a price-to-earnings-growth ratio of 1.19 and a beta of 0.23. The stock has a fifty day simple moving average of $567.39 and a 200 day simple moving average of $504.43. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $669.75. 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 (NYSE:LMT) last issued its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the business posted $7.67 earnings per share. Lockheed Martin’s revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be issued a dividend of $3.45 per share. The ex-dividend date is Monday, March 2nd. This represents a $13.80 annualized dividend and a yield of 2.1%. Lockheed Martin’s payout ratio is 64.22%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. TD Cowen increased their price objective on shares of Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Jefferies Financial Group raised their target price on Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research note on Sunday, February 1st. Royal Bank Of Canada boosted their target price 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. Finally, JPMorgan Chase & Co. increased their price target on Lockheed Martin from $515.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $612.50.

About Lockheed Martin

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.