Certified Advisory Corp Sells 217 Shares of Lockheed Martin Co. (NYSE:LMT)

Certified Advisory Corp reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,069 shares of the aerospace company’s stock after selling 217 shares during the period. Certified Advisory Corp’s holdings in Lockheed Martin were worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Edge Capital Group LLC boosted its position in Lockheed Martin by 16.2% in the second quarter. Edge Capital Group LLC now owns 12,469 shares of the aerospace company’s stock valued at $5,824,000 after buying an additional 1,739 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Lockheed Martin by 168.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,020 shares of the aerospace company’s stock worth $1,411,000 after acquiring an additional 1,895 shares in the last quarter. Fairscale Capital LLC bought a new stake in Lockheed Martin during the 2nd quarter worth approximately $230,000. Fidelis Capital Partners LLC raised its position in Lockheed Martin by 98.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 5,286 shares of the aerospace company’s stock valued at $2,469,000 after purchasing an additional 2,620 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in Lockheed Martin by 52,325.0% in the second quarter. Frank Rimerman Advisors LLC now owns 2,097 shares of the aerospace company’s stock worth $980,000 after purchasing an additional 2,093 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of LMT opened at $571.92 on Monday. The stock has a market cap of $137.23 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73. The stock’s 50-day moving average price is $545.61 and its two-hundred day moving average price is $489.13. 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 (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share 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 business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the firm earned $6.73 EPS. Lockheed Martin’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is presently 46.10%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated 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 sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

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

Lockheed Martin Company 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.