Icon Wealth Advisors LLC Grows Stake in Lockheed Martin Co. (NYSE:LMT)

Icon Wealth Advisors LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT) by 162.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,732 shares of the aerospace company’s stock after buying 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.

Several other large investors also recently added to or reduced their stakes in LMT. International Assets Investment Management LLC boosted its position in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. raised its stake in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after purchasing an additional 249,591 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after buying an additional 180,074 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Lockheed Martin by 272.5% during the 1st quarter. Cetera Investment Advisers now owns 190,039 shares of the aerospace company’s stock valued at $86,443,000 after buying an additional 139,025 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $542.89 on Friday. The firm has a market cap of $128.68 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49. The company’s fifty day simple moving average is $573.68 and its two-hundred day simple moving average is $526.39. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate 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 was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.77 EPS. As a group, equities analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

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

Analyst Ratings Changes

LMT has been the subject of several research reports. Susquehanna cut their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird raised their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, TD Cowen lifted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $611.00.

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.