Trueblood Wealth Management LLC Sells 22 Shares of Lockheed Martin Co. (NYSE:LMT)

Trueblood Wealth Management LLC cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,437 shares of the aerospace company’s stock after selling 22 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Lockheed Martin were worth $671,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC grew its holdings in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin during the 1st quarter valued at $30,000. Stephens Consulting LLC increased its position in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Lockheed Martin during the 2nd quarter valued at about $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LMT. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Finally, UBS Group upped their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Price Performance

NYSE:LMT opened at $566.96 on Thursday. 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. The business’s 50-day moving average is $530.69 and its 200 day moving average is $481.95. The company has a market capitalization of $135.14 billion, a P/E ratio of 20.74, a P/E/G ratio of 4.55 and a beta of 0.47.

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

Lockheed Martin Dividend Announcement

The company 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. This represents a $12.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 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.