New York State Teachers Retirement System Trims Holdings in Lockheed Martin Corporation (NYSE:LMT)

by · The Markets Daily

New York State Teachers Retirement System decreased its holdings in Lockheed Martin Corporation (NYSE:LMT – Free Report) by 5.1% in the 1st quarter, Holdings Channel reports. The firm owned 193,892 shares of the aerospace company’s stock after selling 10,438 shares during the period. New York State Teachers Retirement System’s holdings in Lockheed Martin were worth $86,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC raised its position in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after purchasing an additional 59,597 shares during the last quarter. Northern Trust Corp raised its position in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after purchasing an additional 134,662 shares during the last quarter. Invesco Ltd. raised its position in Lockheed Martin by 17.5% during the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock worth $1,035,989,000 after buying an additional 318,007 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock worth $889,593,000 after buying an additional 1,986,600 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE:LMT opened at $458.59 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The firm has a 50-day moving average price of $470.80 and a two-hundred day moving average price of $466.31. Lockheed Martin Corporation has a twelve month low of $418.88 and a twelve month high of $618.95. The company has a market capitalization of $107.45 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.60 and a beta of 0.29.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. As a group, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.88%. Lockheed Martin’s dividend payout ratio (DPR) is currently 57.02%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. 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. Robert W. Baird upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research report on Wednesday, April 23rd. UBS Group upped their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Finally, Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective for the company in a research report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $541.80.

Check Out Our Latest Stock Analysis on Lockheed Martin

Lockheed Martin Profile

(Free Report)

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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