Commonwealth Retirement Investments LLC Sells 1,283 Shares of Lockheed Martin Co. (NYSE:LMT)

Commonwealth Retirement Investments LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 11.7% in the second quarter, Holdings Channel reports. The fund owned 9,666 shares of the aerospace company’s stock after selling 1,283 shares during the quarter. Lockheed Martin accounts for approximately 2.1% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 15th largest position. Commonwealth Retirement Investments LLC’s holdings in Lockheed Martin were worth $4,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after acquiring an additional 2,019 shares in the last quarter. Warther Private Wealth LLC raised its holdings in Lockheed Martin by 86.1% in the fourth quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after purchasing an additional 7,575 shares in the last quarter. Morningstar Investment Services LLC lifted its position in shares of Lockheed Martin by 99.6% during the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after buying an additional 73,774 shares during the last quarter. Brevan Howard Capital Management LP boosted its holdings in shares of Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after buying an additional 5,736 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock valued at $6,222,000 after buying an additional 2,400 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on LMT. Morgan Stanley increased their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Wells Fargo & Company increased their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the company from $540.00 to $600.00 in a research report on Friday, July 26th. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Lockheed Martin Stock Performance

LMT opened at $566.82 on Friday. The firm has a 50 day moving average of $524.33 and a two-hundred day moving average of $478.58. The firm has a market capitalization of $136.00 billion, a PE ratio of 20.74, a P/E/G ratio of 4.56 and a beta of 0.46. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $578.73.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter last year, the company posted $6.73 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.22%. Lockheed Martin’s payout ratio is 46.10%.

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.