Teachers Retirement System of The State of Kentucky Has $8.18 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Teachers Retirement System of The State of Kentucky reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,504 shares of the aerospace company’s stock after selling 490 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lockheed Martin were worth $8,176,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. grew its stake in shares of Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp lifted its stake in Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after acquiring an additional 440,169 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Lockheed Martin in the first quarter valued at $151,402,000. Capital Research Global Investors grew its position in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after acquiring an additional 218,506 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on 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 of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $603.31 on Thursday. The stock’s fifty day moving average price is $562.41 and its two-hundred day moving average price is $497.26. The firm has a market cap of $144.76 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $611.49.

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

Analyst Ratings Changes

A number of equities analysts recently commented on LMT shares. Morgan Stanley lifted their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Wells Fargo & Company increased their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

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.