Illinois Municipal Retirement Fund Buys 2,198 Shares of Lockheed Martin Co. (NYSE:LMT)

Illinois Municipal Retirement Fund lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 28.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,834 shares of the aerospace company's stock after acquiring an additional 2,198 shares during the period. Illinois Municipal Retirement Fund's holdings in Lockheed Martin were worth $4,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in Lockheed Martin during the 3rd quarter worth about $40,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth about $42,000. Finally, Vestor Capital LLC bought a new position in shares of Lockheed Martin in the 3rd quarter valued at about $46,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.8 %

Shares of LMT traded up $3.73 on Friday, reaching $450.19. The company's stock had a trading volume of 1,432,091 shares, compared to its average volume of 1,574,859. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The stock has a market capitalization of $105.97 billion, a PE ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a fifty day moving average of $465.79 and a 200-day moving average of $525.10.

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

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, March 3rd. Lockheed Martin's payout ratio is currently 59.30%.

Insider Buying and Selling

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated 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 transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now owns 2,000 shares of the company's stock, valued at $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on LMT. Wells Fargo & Company decreased their price target on Lockheed Martin from $497.00 to $468.00 and set an "equal weight" rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and decreased their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Truist Financial assumed coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target on the stock. Susquehanna decreased their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $553.67.

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.