First Fiduciary Investment Counsel Inc. Acquires 8,232 Shares of Lockheed Martin Co. (NYSE:LMT)

First Fiduciary Investment Counsel Inc. boosted its position in Lockheed Martin Co. (NYSE:LMT) by 44.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 26,735 shares of the aerospace company’s stock after purchasing an additional 8,232 shares during the quarter. Lockheed Martin comprises 2.7% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 13th biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in Lockheed Martin were worth $12,117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Lockheed Martin by 73.0% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 27 shares in the last quarter. Activest Wealth Management increased its stake in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after buying an additional 60 shares during the period. Milestone Investment Advisors LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $33,000. Providence Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $35,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of Lockheed Martin by 1,925.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock valued at $37,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insiders Place Their Bets

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,874 shares of company stock worth $7,249,946. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.8 %

NYSE LMT opened at $461.28 on Friday. The business has a 50 day simple moving average of $443.74 and a 200 day simple moving average of $444.46. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The stock has a market capitalization of $110.68 billion, a P/E ratio of 16.88, a P/E/G ratio of 4.25 and a beta of 0.48. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.43 earnings per share. Research analysts expect that Lockheed Martin Co. will post 26.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LMT. Morgan Stanley decreased their price target on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday. Wells Fargo & Company increased their price target on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday. The Goldman Sachs Group decreased their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average price target of $485.40.

Lockheed Martin Profile

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.