Lockheed Martin Co. (NYSE:LMT) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC reduced its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,416 shares of the aerospace company’s stock after selling 54 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Lockheed Martin were worth $2,582,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth about $27,000. Sachetta LLC boosted its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Stephens Consulting LLC boosted its position in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $32,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter valued at about $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.8 %

NYSE:LMT opened at $525.75 on Friday. The company has a market capitalization of $124.62 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 4.29 and a beta of 0.49. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The stock has a 50-day simple moving average of $569.60 and a 200 day simple moving average of $528.50. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This is a positive change 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 annualized dividend and a yield of 2.51%. Lockheed Martin’s payout ratio is 45.62%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LMT. Susquehanna reduced their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. UBS Group upped their price target on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

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.