Lockheed Martin Co. (NYSE:LMT) Stake Cut by Cetera Investment Advisers

Cetera Investment Advisers lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,718 shares of the aerospace company’s stock after selling 2,321 shares during the quarter. Cetera Investment Advisers owned approximately 0.08% of Lockheed Martin worth $87,683,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. HTLF Bank lifted its holdings in Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after buying an additional 20 shares during the period. tru Independence LLC raised its position in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 20 shares during the period. Sachetta LLC boosted its stake in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Twin Lakes Capital Management LLC grew its holdings in Lockheed Martin by 1.3% during the second quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock valued at $713,000 after purchasing an additional 20 shares during the period. Finally, Goldstein Advisors LLC increased its position in shares of Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Insiders Place Their Bets

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 value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Wells Fargo & Company increased their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Bank of America reissued a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Stock Up 0.4 %

LMT stock opened at $584.44 on Tuesday. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $584.95. The business’s 50 day simple moving average is $558.55 and its 200 day simple moving average is $495.31. 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 firm has a market capitalization of $140.23 billion, a PE ratio of 21.38, a PEG ratio of 4.66 and a beta of 0.47.

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

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.