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

Arizona State Retirement System reduced its stake in Lockheed Martin Co. (NYSE:LMT) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,749 shares of the aerospace company’s stock after selling 1,329 shares during the period. Arizona State Retirement System’s holdings in Lockheed Martin were worth $29,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Financial bought a new stake in shares of Lockheed Martin during the first quarter valued at approximately $25,000. Wiser Advisor Group LLC boosted its holdings in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the 1st quarter worth about $30,000. Stephens Consulting LLC increased its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in Lockheed Martin during the 2nd quarter valued at about $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 1.1 %

NYSE LMT opened at $568.59 on Friday. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $578.73. 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 stock has a market cap of $136.43 billion, a PE ratio of 20.80, a P/E/G ratio of 4.56 and a beta of 0.46. The stock’s 50 day moving average is $522.34 and its 200 day moving average is $477.58.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s quarterly revenue 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. Research analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LMT. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their target price for the stock from $540.00 to $600.00 in a report on Friday, July 26th. Susquehanna raised their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.