Kingsview Wealth Management LLC Boosts Holdings in Lockheed Martin Co. (NYSE:LMT)

Kingsview Wealth Management LLC grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,301 shares of the aerospace company’s stock after purchasing an additional 521 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Lockheed Martin were worth $10,698,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC raised its holdings in shares of Lockheed Martin by 6.2% in the third quarter. Cerity Partners LLC now owns 138,011 shares of the aerospace company’s stock valued at $80,676,000 after acquiring an additional 8,103 shares in the last quarter. Nwam LLC bought a new stake in shares of Lockheed Martin in the third quarter valued at about $812,000. Meridian Wealth Management LLC bought a new position in Lockheed Martin in the third quarter worth about $2,786,000. Icon Wealth Advisors LLC raised its holdings in Lockheed Martin by 162.5% in the third quarter. Icon Wealth Advisors LLC now owns 11,732 shares of the aerospace company’s stock worth $6,858,000 after purchasing an additional 7,262 shares in the last quarter. Finally, CFS Investment Advisory Services LLC raised its holdings in Lockheed Martin by 59.2% in the third quarter. CFS Investment Advisory Services LLC now owns 1,070 shares of the aerospace company’s stock worth $625,000 after purchasing an additional 398 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 0.0 %

Shares of LMT stock opened at $542.22 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The company has a market cap of $128.53 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 4.43 and a beta of 0.49. The stock has a 50 day simple moving average of $573.12 and a 200-day simple moving average of $526.94. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion during 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%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.77 EPS. On average, equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays upped their target price on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.