TCI Wealth Advisors Inc. Has $1.07 Million Holdings in Lockheed Martin Co. (NYSE:LMT)

TCI Wealth Advisors Inc. decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,832 shares of the aerospace company’s stock after selling 119 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Lockheed Martin were worth $1,071,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC acquired a new position in Lockheed Martin during the second quarter worth $6,611,000. McAdam LLC raised its position in Lockheed Martin by 101.7% during the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after acquiring an additional 594 shares in the last quarter. Verity & Verity LLC lifted its stake in Lockheed Martin by 3.2% in the second quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company’s stock valued at $15,992,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new position in shares of Lockheed Martin in the 3rd quarter valued at about $1,096,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT traded down $5.82 during mid-day trading on Monday, reaching $556.47. 447,319 shares of the company’s stock were exchanged, compared to its average volume of 1,052,092. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The business’s fifty day simple moving average is $580.07 and its two-hundred day simple moving average is $515.53. The firm has a market capitalization of $132.64 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $6.77 earnings per share. Analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen raised their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. Finally, Susquehanna reduced their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.71.

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.