Maryland State Retirement & Pension System Sells 305 Shares of Lockheed Martin Co. (NYSE:LMT)

Maryland State Retirement & Pension System cut its stake in Lockheed Martin Co. (NYSE:LMT) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,942 shares of the aerospace company’s stock after selling 305 shares during the period. Maryland State Retirement & Pension System’s holdings in Lockheed Martin were worth $7,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LMT. Norris Perne & French LLP MI grew its stake in Lockheed Martin by 2.8% in the fourth quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock worth $410,000 after purchasing an additional 25 shares during the period. Genesee Capital Advisors LLC increased its stake in shares of Lockheed Martin by 2.8% in the 4th quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock worth $419,000 after acquiring an additional 25 shares in the last quarter. Hunter Associates Investment Management LLC lifted its position in Lockheed Martin by 1.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock valued at $912,000 after acquiring an additional 25 shares during the period. Missouri Trust & Investment Co lifted its position in Lockheed Martin by 19.8% during the 4th quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock valued at $68,000 after acquiring an additional 25 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV boosted its stake in Lockheed Martin by 7.1% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 377 shares of the aerospace company’s stock worth $171,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

LMT traded down $3.64 during midday trading on Friday, hitting $462.39. 45,828 shares of the company traded hands, compared to its average volume of 1,075,680. The company’s 50-day moving average is $465.21 and its 200 day moving average is $450.86. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $479.50. The firm has a market capitalization of $110.94 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 4.39 and a beta of 0.46. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.53. The company had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted $6.43 earnings per share. On average, research analysts expect that Lockheed Martin Co. will post 26.17 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.72%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. UBS Group raised their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. The Goldman Sachs Group lowered their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $475.00 to $518.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $485.40.

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.