Lockheed Martin Corporation $LMT Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its holdings in Lockheed Martin Corporation (NYSE:LMT) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 169,885 shares of the aerospace company’s stock after selling 5,923 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lockheed Martin were worth $86,514,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Norris Financial Group LLC acquired a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $2,321,000. CX Institutional boosted its stake in Lockheed Martin by 527.4% during the third quarter. CX Institutional now owns 18,415 shares of the aerospace company’s stock worth $9,378,000 after buying an additional 15,480 shares in the last quarter. Talon Private Wealth LLC acquired a new stake in Lockheed Martin during the first quarter worth $3,743,000. Meeder Asset Management Inc. bought a new stake in Lockheed Martin in the 2nd quarter valued at $11,036,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at $4,796,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 1.7%

Shares of NYSE:LMT opened at $566.43 on Friday. Lockheed Martin Corporation has a one year low of $437.25 and a one year high of $692.00. The company has a 50 day moving average of $548.25 and a 200-day moving average of $569.65. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.26 and a quick ratio of 1.10. The stock has a market cap of $130.85 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.36 and a beta of 0.07.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, beating analysts’ consensus estimates of $7.52 by $0.45. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The company had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $20.48 billion. During the same quarter in the prior year, the business posted $6.95 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts forecast that Lockheed Martin Corporation will post 30.66 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be paid a $3.60 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.5%. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.02%.

Key Lockheed Martin News

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Zacks says Lockheed Martin has gained 12% over six months, supported by a record backlog, global defense demand, major contracts and strategic acquisitions. It also describes the shares as trading at a discount to the industry, which could appeal to value-focused investors. Article: LMT Trades at a Discount to the Industry
• Positive Sentiment: Industry earnings point to ongoing demand for conventional weapons as well as drones and advanced defense systems, a supportive backdrop for defense contractors, although the article does not provide Lockheed-specific results. Article: Defense earnings reveal a more complicated rearmament boom
• Neutral Sentiment: Lockheed Martin is attracting increased attention from Zacks users, but the coverage does not identify a specific new company development driving that interest. Article: What to Know Beyond Why Lockheed Martin Is a Trending Stock
• Negative Sentiment: Defense shares faced political and budget uncertainty after Democrats took control of Congress. Reports say a proposed $1.5 trillion defense budget request may be in jeopardy, raising questions about future spending and contributing to pressure on Lockheed Martin and other contractors. Article: Defense Stocks Sank as Democrats Took Congress
• Negative Sentiment: Lockheed Martin agreed to pay $29.5 million to settle federal claims that it discriminated against white workers. The payment is a cost and may bring reputational scrutiny, though it is not presented as a change to the company’s operating outlook. Article: Lockheed Martin paying $29.5M settlement

Analyst Ratings Changes

Several brokerages have recently weighed in on LMT. Wells Fargo & Company lifted their target price on shares of Lockheed Martin from $600.00 to $700.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. UBS Group increased their target price on Lockheed Martin from $653.00 to $692.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Robert W. Baird set a $700.00 price objective on shares of Lockheed Martin in a report on Friday, July 24th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $615.00 price target on shares of Lockheed Martin in a report on Sunday, October 25th. Finally, Rothschild & Co Redburn began coverage on shares of Lockheed Martin in a research report on Tuesday, October 6th. They issued a “buy” rating and a $650.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $647.00.

Lockheed Martin Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.