Icon Wealth Partners LLC acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 1st quarter, HoldingsChannel reports. The fund acquired 186 shares of the aerospace company’s stock, valued at approximately $56,000.
Several other large investors have also added to or reduced their stakes in the company. Bremer Trust National Association acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at about $25,000. ERTS Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at about $26,000. Lake Point Wealth Management acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at about $26,000. Advisors Preferred LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at about $26,000. Finally, Heritage Wealth Advisors boosted its position in shares of Lockheed Martin by 304.3% in the 1st quarter. Heritage Wealth Advisors now owns 93 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 70 shares during the period. 78.06% of the stock is owned by institutional investors and hedge funds.
LMT has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on Lockheed Martin from $300.00 to $324.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 13th. ValuEngine cut Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Cowen reissued a “buy” rating and issued a $360.00 target price on shares of Lockheed Martin in a research report on Wednesday, April 24th. Bank of America reissued a “buy” rating and issued a $400.00 target price (up from $390.00) on shares of Lockheed Martin in a research report on Wednesday, April 24th. Finally, Robert W. Baird upped their target price on Lockheed Martin from $326.00 to $371.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lockheed Martin presently has an average rating of “Buy” and an average price target of $355.13.
In other Lockheed Martin news, Director David B. Burritt sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total transaction of $693,441.00. Following the completion of the sale, the director now directly owns 6,030 shares of the company’s stock, valued at approximately $1,991,166.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is owned by corporate insiders.
LMT opened at $345.51 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 5.00. The company has a market cap of $97.20 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 2.39 and a beta of 0.96. Lockheed Martin Co. has a 52 week low of $241.18 and a 52 week high of $358.63.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.29 by $1.70. The firm had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $12.48 billion. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.02 EPS. On average, equities research analysts expect that Lockheed Martin Co. will post 20.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, May 31st. Lockheed Martin’s dividend payout ratio is presently 49.30%.
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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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