First Fiduciary Investment Counsel Inc. Boosts Holdings in Lockheed Martin Co. (NYSE:LMT)

First Fiduciary Investment Counsel Inc. raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 44.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,735 shares of the aerospace company’s stock after purchasing an additional 8,232 shares during the period. Lockheed Martin accounts for 2.7% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 13th biggest position. First Fiduciary Investment Counsel Inc.’s holdings in Lockheed Martin were worth $12,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Triumph Capital Management grew its holdings in Lockheed Martin by 3.1% during the third quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock valued at $296,000 after purchasing an additional 22 shares during the last quarter. Abbrea Capital LLC boosted its position 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 acquiring an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position 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 acquiring an additional 23 shares during the period. Duncker Streett & Co. Inc. lifted its position in Lockheed Martin by 1.2% in the third quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock worth $823,000 after purchasing an additional 24 shares during the period. Finally, Compagnie Lombard Odier SCmA lifted its position in Lockheed Martin by 0.7% in the third quarter. Compagnie Lombard Odier SCmA now owns 3,375 shares of the aerospace company’s stock worth $1,380,000 after purchasing an additional 25 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $461.28 on Friday. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $479.50. The firm has a market cap of $110.68 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 4.25 and a beta of 0.48. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.03 and a current ratio of 1.30. The business has a fifty day moving average of $443.74 and a 200-day moving average of $444.46.

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, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same period last year, the company posted $6.43 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts predict that Lockheed Martin Co. will post 26.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on LMT shares. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday. The Goldman Sachs Group reduced their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday. Citigroup raised their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna reduced their target price 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. Finally, Royal Bank of Canada dropped their price objective on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $485.40.

Insider Activity

In other news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction dated 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is owned by corporate 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.