IAM Advisory LLC Invests $867,000 in Lockheed Martin Co. (NYSE:LMT)

IAM Advisory LLC bought a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,429 shares of the aerospace company’s stock, valued at approximately $867,000.

Other large investors have also bought and sold shares of the company. Clean Yield Group bought a new stake in shares of Lockheed Martin during the second quarter worth about $25,000. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the second quarter worth about $33,000. Sierra Capital LLC bought a new stake in shares of Lockheed Martin during the first quarter worth about $36,000. Selective Wealth Management Inc. bought a new stake in shares of Lockheed Martin during the second quarter worth about $38,000. Finally, Paragon Wealth Strategies LLC purchased a new position in Lockheed Martin during the second quarter worth about $42,000. 74.43% of the stock is owned by institutional investors.

LMT opened at $343.58 on Thursday. The company’s 50-day moving average price is $347.00 and its two-hundred day moving average price is $364.29. Lockheed Martin Co. has a twelve month low of $319.81 and a twelve month high of $396.99. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 1.21. The stock has a market cap of $94.75 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 3.37 and a beta of 0.94.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Monday, October 25th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.24. Lockheed Martin had a net margin of 9.13% and a return on equity of 104.60%. The company had revenue of $16.03 billion for the quarter, compared to analyst estimates of $17.12 billion. During the same quarter in the previous year, the firm posted $6.25 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 28.49 earnings per share for the current year.

Lockheed Martin announced that its board has initiated a stock repurchase plan on Thursday, September 23rd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 27th. Stockholders of record on Wednesday, December 1st will be given a $2.80 dividend. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $11.20 annualized dividend and a dividend yield of 3.26%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.60. Lockheed Martin’s payout ratio is 47.99%.

Several research analysts recently weighed in on the stock. UBS Group cut their price target on shares of Lockheed Martin from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Wednesday, October 27th. Robert W. Baird cut their price target on shares of Lockheed Martin from $394.00 to $376.00 and set a “neutral” rating on the stock in a report on Wednesday, October 27th. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the stock from $440.00 to $375.00 in a report on Monday, November 1st. Morgan Stanley cut their price target on shares of Lockheed Martin from $458.00 to $430.00 and set an “overweight” rating on the stock in a report on Thursday, November 4th. Finally, Wells Fargo & Company dropped their target price on shares of Lockheed Martin from $385.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 27th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $380.40.

About Lockheed Martin

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

Further Reading: Fiduciary

Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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