Lockheed Martin Co. (NYSE:LMT) Shares Sold by JCIC Asset Management Inc.

JCIC Asset Management Inc. lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 1.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,484 shares of the aerospace company’s stock after selling 155 shares during the period. Lockheed Martin comprises approximately 1.5% of JCIC Asset Management Inc.’s portfolio, making the stock its 27th largest position. JCIC Asset Management Inc.’s holdings in Lockheed Martin were worth $3,309,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Bangor Savings Bank increased its holdings in Lockheed Martin by 8.8% in the 3rd quarter. Bangor Savings Bank now owns 3,467 shares of the aerospace company’s stock valued at $1,352,000 after purchasing an additional 279 shares during the last quarter. Cerebellum GP LLC increased its holdings in Lockheed Martin by 379.1% in the 3rd quarter. Cerebellum GP LLC now owns 527 shares of the aerospace company’s stock valued at $169,000 after purchasing an additional 417 shares during the last quarter. Enterprise Bank & Trust Co increased its holdings in Lockheed Martin by 9.9% in the 3rd quarter. Enterprise Bank & Trust Co now owns 7,781 shares of the aerospace company’s stock valued at $3,035,000 after purchasing an additional 699 shares during the last quarter. Chesley Taft & Associates LLC increased its holdings in Lockheed Martin by 0.6% in the 3rd quarter. Chesley Taft & Associates LLC now owns 4,496 shares of the aerospace company’s stock valued at $1,754,000 after purchasing an additional 26 shares during the last quarter. Finally, LVM Capital Management Ltd. MI increased its holdings in Lockheed Martin by 10.0% in the 3rd quarter. LVM Capital Management Ltd. MI now owns 24,796 shares of the aerospace company’s stock valued at $9,672,000 after purchasing an additional 2,252 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Several analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Lockheed Martin from $385.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Credit Suisse Group lifted their target price on shares of Lockheed Martin from $369.00 to $379.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $360.00 to $395.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Morgan Stanley raised their price target on shares of Lockheed Martin from $356.00 to $376.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Finally, DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a research report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $367.86.

In other news, Chairman Marillyn A. Hewson sold 19,500 shares of Lockheed Martin stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $369.14, for a total transaction of $7,198,230.00. Following the completion of the sale, the chairman now directly owns 46,534 shares of the company’s stock, valued at approximately $17,177,560.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James D. Taiclet, Jr. acquired 1,354 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $376.32 per share, with a total value of $509,537.28. Following the completion of the transaction, the director now owns 1,354 shares in the company, valued at approximately $509,537.28. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 22,503 shares of company stock valued at $8,292,527. Corporate insiders own 0.35% of the company’s stock.

LMT stock traded down $1.29 during midday trading on Monday, hitting $383.66. The company’s stock had a trading volume of 37,482 shares, compared to its average volume of 1,159,865. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $399.96. The firm has a market capitalization of $107.33 billion, a P/E ratio of 21.50, a PEG ratio of 2.52 and a beta of 0.96. The firm has a 50-day simple moving average of $384.58 and a 200-day simple moving average of $351.59.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.26. The company had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.31 EPS. On average, sell-side analysts expect that Lockheed Martin Co. will post 21.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $2.40 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, November 29th. Lockheed Martin’s payout ratio is 49.30%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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