Iron Gate Global Advisors LLC Invests $241,000 in Lockheed Martin Co. (NYSE:LMT)

Iron Gate Global Advisors LLC bought a new stake in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 412 shares of the aerospace company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMT. CVA Family Office LLC raised its stake in Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. lifted its holdings in shares of Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 18 shares in the last quarter. Sunburst Financial Group LLC lifted its holdings in shares of Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC lifted its holdings in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT stock opened at $520.29 on Tuesday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The firm has a market capitalization of $123.33 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 4.32 and a beta of 0.47. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a fifty day moving average of $568.75 and a 200-day moving average of $529.80.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the business earned $6.77 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.54%. Lockheed Martin’s payout ratio is 45.62%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada cut their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $560.00 to $630.00 and gave the company 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. Susquehanna lowered their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

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.