Icon Wealth Advisors LLC Sells 54 Shares of Lockheed Martin Co. (NYSE:LMT)

Icon Wealth Advisors LLC decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Robert W. Baird raised their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Citigroup raised their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Trading Up 0.8 %

Shares of NYSE LMT opened at $525.75 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a fifty day simple moving average of $569.60 and a 200-day simple moving average of $528.50. The stock has a market capitalization of $124.62 billion, a PE ratio of 19.04, a PEG ratio of 4.29 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share 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 business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.51%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.62%.

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.