California Public Employees Retirement System Reduces Stake in Lockheed Martin Co. (NYSE:LMT)

California Public Employees Retirement System decreased its position in Lockheed Martin Co. (NYSE:LMT - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 790,493 shares of the aerospace company's stock after selling 9,810 shares during the period. California Public Employees Retirement System owned 0.34% of Lockheed Martin worth $384,132,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin during the third quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Lockheed Martin in the fourth quarter valued at $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the 4th quarter valued at $35,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin during the 3rd quarter worth $42,000. Institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective on the stock. Barclays cut their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Susquehanna lowered their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday, January 29th. Melius downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $539.53.

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Lockheed Martin Price Performance

Lockheed Martin stock traded up $4.65 during mid-day trading on Wednesday, hitting $453.29. 588,564 shares of the company traded hands, compared to its average volume of 1,207,446. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The stock has a market cap of $106.70 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The stock has a fifty day moving average price of $454.45 and a 200-day moving average price of $508.19.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. Lockheed Martin's dividend payout ratio (DPR) is 59.30%.

Insider Activity at Lockheed Martin

In other 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 value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction 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 sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company's stock.

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.