Lockheed Martin Co. (NYSE:LMT) Stake Lessened by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,092 shares of the aerospace company’s stock after selling 240 shares during the period. Kentucky Retirement Systems’ holdings in Lockheed Martin were worth $7,517,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LMT. Dimensional Fund Advisors LP raised its stake in shares of Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Capital Research Global Investors lifted its holdings in 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 last quarter. Envestnet Asset Management Inc. boosted its position in shares of Lockheed Martin by 0.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 833,264 shares of the aerospace company’s stock valued at $389,218,000 after purchasing an additional 2,942 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Lockheed Martin by 3.3% in the 2nd quarter. LSV Asset Management now owns 505,427 shares of the aerospace company’s stock worth $236,085,000 after purchasing an additional 16,280 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now 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 SEC, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $553.43.

Lockheed Martin Stock Performance

Shares of LMT opened at $566.00 on Thursday. The company has a market capitalization of $135.80 billion, a PE ratio of 20.71, a PEG ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The company’s 50 day moving average price is $541.35 and its 200 day moving average price is $486.83. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73.

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 the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the previous year, the company posted $6.73 EPS. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. Research analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.23%. 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.