Louisiana State Employees Retirement System Sells 400 Shares of Lockheed Martin Co. (NYSE:LMT)

Louisiana State Employees Retirement System lowered its position in Lockheed Martin Co. (NYSE:LMT) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,100 shares of the aerospace company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Lockheed Martin were worth $5,652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Pacific Financial bought a new stake in shares of Lockheed Martin during the first quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new position in Lockheed Martin in the fourth quarter worth $26,000. Wiser Advisor Group LLC lifted its stake in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the 1st quarter valued at about $30,000. Finally, Thompson Investment Management Inc. purchased a new stake in Lockheed Martin in the first quarter worth approximately $38,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.2 %

Shares of NYSE LMT traded down $1.13 during midday trading on Friday, hitting $555.90. The stock had a trading volume of 153,836 shares, compared to its average volume of 1,074,422. The company has a market cap of $133.38 billion, a P/E ratio of 20.34, a PEG ratio of 4.40 and a beta of 0.46. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The business’s 50 day moving average is $502.22 and its 200-day moving average is $467.87. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $564.22.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the company earned $6.73 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. UBS Group boosted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” 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 raised their target price for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $541.85.

Insider Activity 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 shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, 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 SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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.