Commonwealth Equity Services LLC Buys 12,060 Shares of Lockheed Martin Corporation (NYSE:LMT)

Key Points

• Commonwealth Equity Services LLC increased its stake in Lockheed Martin by 4.8%, acquiring an additional 12,060 shares, bringing its total ownership to approximately 264,874 shares valued at $118.32 million.
• Several brokerages have recently adjusted their price targets for Lockheed Martin, with JPMorgan reducing its target from $520.00 to $465.00, and Truist Financial lowering it from $554.00 to $440.00.
• Lockheed Martin announced a quarterly dividend of $3.30 per share, equating to an annualized yield of 3.1%, with the ex-dividend date set for September 2nd.

Commonwealth Equity Services LLC raised its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 264,874 shares of the aerospace company's stock after acquiring an additional 12,060 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.11% of Lockheed Martin worth $118,322,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin in the first quarter valued at about $31,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter valued at about $35,000. Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter valued at about $40,000. Banque Transatlantique SA bought a new position in shares of Lockheed Martin in the fourth quarter valued at about $43,000. Finally, EQ Wealth Advisors LLC bought a new stake in Lockheed Martin during the 1st quarter worth about $43,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LMT. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. TD Cowen reiterated a "hold" rating and issued a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Truist Financial downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their price target for the company from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Finally, UBS Group dropped their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $506.65.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $420.97 on Friday. The firm has a market capitalization of $98.28 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.48 and a beta of 0.27. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The stock's 50 day moving average is $460.68 and its 200-day moving average is $460.68. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the prior year, the company earned $7.11 EPS. The firm's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 3.1%. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

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.

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