Arizona State Retirement System Sells 1,329 Shares of Lockheed Martin Co. (NYSE:LMT)

Arizona State Retirement System decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,749 shares of the aerospace company’s stock after selling 1,329 shares during the quarter. Arizona State Retirement System’s holdings in Lockheed Martin were worth $29,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. raised its holdings in Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after acquiring an additional 336,588 shares during the period. Dimensional Fund Advisors LP raised its holdings in Lockheed Martin by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock valued at $470,536,000 after acquiring an additional 27,349 shares during the period. Capital Research Global Investors raised its holdings in Lockheed Martin by 29.7% during 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. Envestnet Asset Management Inc. raised its holdings in Lockheed Martin by 1.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after acquiring an additional 9,136 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after purchasing an additional 274,680 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Susquehanna boosted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Trading Down 1.1 %

NYSE LMT opened at $568.59 on Friday. The firm has a market cap of $136.43 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 4.56 and a beta of 0.46. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $578.73. The stock has a 50-day moving average of $522.34 and a 200-day moving average of $477.58. 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 announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the previous year, the company posted $6.73 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

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.