Icon Wealth Advisors LLC Buys 7,262 Shares of Lockheed Martin Co. (NYSE:LMT)

Icon Wealth Advisors LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT) by 162.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,732 shares of the aerospace company’s stock after acquiring an additional 7,262 shares during the period. Icon Wealth Advisors LLC’s holdings in Lockheed Martin were worth $6,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LMT. GAMMA Investing LLC lifted its position in Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the period. Old West Investment Management LLC increased its stake in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Buck Wealth Strategies LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at approximately $6,611,000. Empower Advisory Group LLC boosted its position in shares of Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after purchasing an additional 1,843 shares in the last quarter. Finally, Financial Enhancement Group LLC grew its stake in shares of Lockheed Martin by 2,268.3% in the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after buying an additional 10,003 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LMT. Bank of America reiterated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Robert W. Baird lifted their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. UBS Group increased their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

Shares of LMT opened at $542.89 on Friday. The firm has a fifty day simple moving average of $573.68 and a two-hundred day simple moving average of $526.39. The firm has a market cap of $128.68 billion, a PE ratio of 19.66, a P/E/G ratio of 4.36 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. On average, equities analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.43%. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

Lockheed Martin Company 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.