Lockheed Martin Co. (NYSE:LMT) Stake Lessened by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp reduced its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 20.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,338 shares of the aerospace company's stock after selling 9,117 shares during the period. Texas Permanent School Fund Corp's holdings in Lockheed Martin were worth $16,506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LMT. First Pacific Financial purchased a new position in Lockheed Martin in the 1st quarter valued at about $25,000. Wiser Advisor Group LLC increased its holdings in Lockheed Martin by 65.8% during the 1st 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 stake in Lockheed Martin during the 1st quarter worth approximately $30,000. Stephens Consulting LLC raised its position in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter valued at approximately $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 24th. Barclays increased their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th. UBS Group boosted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. Melius Research raised Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $553.43.

Insider Transactions at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company's stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company's stock.

Lockheed Martin Stock Performance

LMT stock traded up $9.92 on Monday, reaching $576.55. The company's stock had a trading volume of 809,954 shares, compared to its average volume of 1,068,155. The firm has a fifty day moving average of $526.54 and a two-hundred day moving average of $480.36. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market capitalization of $137.43 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $578.73.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.73 earnings per share. As a group, analysts predict 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 given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin's dividend payout ratio (DPR) is presently 46.10%.

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.