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

Commonwealth Retirement Investments LLC lowered its position in Lockheed Martin Co. (NYSE:LMT) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,666 shares of the aerospace company’s stock after selling 1,283 shares during the period. Lockheed Martin comprises approximately 2.1% of Commonwealth Retirement Investments LLC’s holdings, 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.

A number of other institutional investors have also bought and sold shares of the business. First Pacific Financial purchased a new stake in shares of Lockheed Martin during the first quarter worth about $25,000. Wiser Advisor Group LLC grew its holdings in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin during the first quarter valued at approximately $30,000. Stephens Consulting LLC lifted its holdings 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 worth $31,000 after buying an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Lockheed Martin during the second quarter worth $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on LMT shares. Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Susquehanna increased their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Finally, Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $553.43.

Insider Activity

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

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $566.82 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $136.00 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73. The firm’s 50-day moving average is $524.33 and its 200 day moving average is $478.58.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.22%. Lockheed Martin’s dividend payout ratio (DPR) 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.