Chase Investment Counsel Corp Sells 221 Shares of Lockheed Martin Co. (NYSE:LMT)

Chase Investment Counsel Corp reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,993 shares of the aerospace company’s stock after selling 221 shares during the quarter. Chase Investment Counsel Corp’s holdings in Lockheed Martin were worth $1,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Triumph Capital Management boosted its holdings in Lockheed Martin by 3.1% during the 3rd quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock valued at $296,000 after acquiring an additional 22 shares during the period. Abbrea Capital LLC boosted its stake in shares of Lockheed Martin by 1.7% in the third quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock valued at $571,000 after purchasing an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Lockheed Martin by 1.6% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock valued at $584,000 after purchasing an additional 23 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in Lockheed Martin by 1.2% during the 3rd quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock worth $823,000 after buying an additional 24 shares during the period. Finally, Compagnie Lombard Odier SCmA raised its stake in shares of Lockheed Martin by 0.7% in the third quarter. Compagnie Lombard Odier SCmA now owns 3,375 shares of the aerospace company’s stock valued at $1,380,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. The Goldman Sachs Group decreased their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Citigroup increased their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their target price on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Susquehanna lowered their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Stock Performance

NYSE:LMT traded up $4.08 during trading hours on Monday, reaching $465.37. 306,835 shares of the company’s stock were exchanged, compared to its average volume of 1,157,191. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $479.50. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $111.66 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 4.22 and a beta of 0.48. The company has a 50-day moving average of $443.74 and a 200 day moving average of $444.58.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.43 earnings per share. Research analysts anticipate that Lockheed Martin Co. will post 26.16 EPS for the current year.

Insider Transactions at Lockheed Martin

In other news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold 16,874 shares of company stock worth $7,249,946 over the last 90 days. 0.17% of the stock is currently owned by insiders.

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.