State of Alaska Department of Revenue Trims Stake in Lockheed Martin Co. (NYSE:LMT)

State of Alaska Department of Revenue lowered its position in Lockheed Martin Co. (NYSE:LMT) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,204 shares of the aerospace company’s stock after selling 510 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lockheed Martin were worth $11,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norris Perne & French LLP MI increased its holdings in shares of Lockheed Martin by 2.8% during the 4th quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock valued at $410,000 after purchasing an additional 25 shares in the last quarter. Genesee Capital Advisors LLC boosted its stake in Lockheed Martin by 2.8% during the 4th quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock worth $419,000 after purchasing an additional 25 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake 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 worth $912,000 after purchasing an additional 25 shares during the last quarter. Missouri Trust & Investment Co boosted its stake in Lockheed Martin by 19.8% during the 4th quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock worth $68,000 after purchasing an additional 25 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV boosted its stake in Lockheed Martin by 7.1% during the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 377 shares of the aerospace company’s stock worth $171,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT opened at $466.15 on Thursday. The stock has a 50 day moving average price of $465.05 and a 200 day moving average price of $450.65. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $111.85 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 4.38 and a beta of 0.46. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $479.50.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.43 earnings per share. Research analysts predict that Lockheed Martin Co. will post 26.17 EPS for the current fiscal 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 $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. The Goldman Sachs Group lowered their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $475.00 to $518.00 in a research report on Monday, April 15th. Finally, Citigroup upped their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average price target of $485.40.

Lockheed Martin Company 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.