Texas Permanent School Fund Corp Reduces Stock Position in Lockheed Martin Co. (NYSE:LMT)

Texas Permanent School Fund Corp reduced its position in shares of Lockheed Martin Co. (NYSE:LMTFree Report) by 2.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,311 shares of the aerospace company’s stock after selling 952 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Lockheed Martin were worth $18,939,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LMT. Lee Financial Co boosted its holdings in shares of Lockheed Martin by 367.6% in the first quarter. Lee Financial Co now owns 477 shares of the aerospace company’s stock worth $210,000 after buying an additional 375 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Lockheed Martin by 240.0% during the first quarter. Vontobel Holding Ltd. now owns 4,124 shares of the aerospace company’s stock valued at $1,821,000 after purchasing an additional 2,911 shares in the last quarter. Sei Investments Co. raised its stake in shares of Lockheed Martin by 56.8% in the first quarter. Sei Investments Co. now owns 23,153 shares of the aerospace company’s stock valued at $9,995,000 after acquiring an additional 8,389 shares during the period. NewEdge Advisors LLC increased its stake in Lockheed Martin by 18.4% in the 1st quarter. NewEdge Advisors LLC now owns 28,807 shares of the aerospace company’s stock worth $12,716,000 after buying an additional 4,472 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Lockheed Martin by 20.4% in the 1st quarter. Mackenzie Financial Corp now owns 107,366 shares of the aerospace company’s stock valued at $47,391,000 after buying an additional 18,201 shares in the last quarter. 74.26% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

NYSE:LMT traded down $3.22 during midday trading on Thursday, reaching $426.88. 970,732 shares of the company traded hands, compared to its average volume of 1,173,387. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $508.10. The firm has a market capitalization of $103.15 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 3.89 and a beta of 0.49. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. The company has a fifty day moving average price of $446.89 and a 200 day moving average price of $442.19.

Lockheed Martin (NYSE:LMTGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The aerospace company reported $7.90 EPS for the quarter, topping analysts’ consensus estimates of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The company had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $17.96 billion. During the same quarter in the previous year, the business earned $7.79 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts expect that Lockheed Martin Co. will post 26.24 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.95%. Lockheed Martin’s dividend payout ratio is 45.74%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Lockheed Martin from $495.00 to $481.00 and set a “neutral” rating for the company in a research report on Wednesday, October 18th. Morgan Stanley lowered their target price on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. UBS Group lowered their target price on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $491.92.

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About Lockheed Martin

(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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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