Commonwealth Equity Services LLC Sells 5,923 Shares of Lockheed Martin Corporation $LMT

Key Points

• Commonwealth Equity Services cut its Lockheed Martin stake by 3.4%, selling 5,923 shares in the third quarter; it retained 169,885 shares valued at about $86.5 million.
• Lockheed Martin reported quarterly EPS of $7.97, beating estimates of $7.52, while revenue rose 11.3% year over year to $20.71 billion. The company also raised its quarterly dividend from $3.45 to $3.60 per share.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $647.00. The article also cites uncertainty over defense budgets and a $29.5 million settlement as potential headwinds.

Commonwealth Equity Services LLC reduced its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,885 shares of the aerospace company's stock after selling 5,923 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of Lockheed Martin worth $86,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. IAG Wealth Partners LLC boosted its stake in shares of Lockheed Martin by 4,800.0% during the 1st quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company's stock worth $30,000 after acquiring an additional 48 shares in the last quarter. Burnham & Co LLC purchased a new position in Lockheed Martin in the 2nd quarter worth about $25,000. Field & Main Bank acquired a new stake in Lockheed Martin during the 2nd quarter worth about $26,000. Kelleher Financial Advisors purchased a new stake in Lockheed Martin during the second quarter valued at about $29,000. Finally, Highland Investment Advisors LLC purchased a new position in shares of Lockheed Martin in the second quarter worth approximately $29,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Down 1.7%

NYSE:LMT opened at $566.43 on Friday. The stock's 50 day moving average price is $548.25 and its 200 day moving average price is $569.65. Lockheed Martin Corporation has a 52 week low of $437.25 and a 52 week high of $692.00. The company has a market capitalization of $130.85 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.36 and a beta of 0.07. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.10 and a current ratio of 1.26.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.52 by $0.45. The firm had revenue of $20.71 billion during the quarter, compared to analysts' expectations of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The company's revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.95 earnings per share. On average, research analysts forecast that Lockheed Martin Corporation will post 30.66 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

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

Analysts Set New Price Targets

LMT has been the subject of a number of research analyst reports. Barclays increased their target price on Lockheed Martin from $554.00 to $560.00 and gave the company an "equal weight" rating in a report on Friday, October 23rd. UBS Group increased their price objective on Lockheed Martin from $653.00 to $692.00 and gave the stock a "buy" rating in a research note on Friday, October 23rd. Guggenheim began coverage on shares of Lockheed Martin in a report on Wednesday. They set a "buy" rating and a $735.00 price target for the company. Rothschild & Co Redburn began coverage on shares of Lockheed Martin in a research report on Tuesday, October 6th. They set a "buy" rating and a $650.00 price objective on the stock. Finally, Bank of America reiterated a "neutral" rating and issued a $620.00 target price on shares of Lockheed Martin in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $647.00.

Key Stories Impacting Lockheed Martin

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

About Lockheed Martin

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.

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