State of Michigan Retirement System Has $30.38 Million Stake in Lockheed Martin Co. (NYSE:LMT)

State of Michigan Retirement System decreased its position in Lockheed Martin Co. (NYSE:LMT) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,518 shares of the aerospace company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in Lockheed Martin were worth $30,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bravias Capital Group LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at about $244,000. Gryphon Financial Partners LLC raised its stake in shares of Lockheed Martin by 3.8% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,710 shares of the aerospace company’s stock valued at $1,317,000 after purchasing an additional 99 shares during the period. Meridian Wealth Management LLC raised its stake in shares of Lockheed Martin by 27.7% in the 4th quarter. Meridian Wealth Management LLC now owns 6,085 shares of the aerospace company’s stock valued at $2,957,000 after purchasing an additional 1,319 shares during the period. Mission Wealth Management LP raised its stake in shares of Lockheed Martin by 9.5% in the 4th quarter. Mission Wealth Management LP now owns 4,841 shares of the aerospace company’s stock valued at $2,353,000 after purchasing an additional 419 shares during the period. Finally, Keystone Wealth Services LLC raised its stake in shares of Lockheed Martin by 33.8% in the 4th quarter. Keystone Wealth Services LLC now owns 1,196 shares of the aerospace company’s stock valued at $581,000 after purchasing an additional 302 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.2 %

Lockheed Martin stock opened at $451.44 on Tuesday. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market capitalization of $106.26 billion, a P/E ratio of 20.28, a PEG ratio of 2.07 and a beta of 0.48. The stock has a 50-day simple moving average of $465.09 and a 200 day simple moving average of $524.06.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.92%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 over the last three months. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley dropped their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Citigroup decreased their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada decreased their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. UBS Group decreased their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.67.

About Lockheed Martin

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.