New York State Teachers Retirement System Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

New York State Teachers Retirement System trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,200 shares of the aerospace company's stock after selling 8,746 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Lockheed Martin worth $124,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in Lockheed Martin by 130.0% in the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company's stock valued at $1,668,000 after acquiring an additional 2,019 shares during the period. Buck Wealth Strategies LLC acquired a new position in Lockheed Martin in the 2nd quarter valued at about $6,611,000. McAdam LLC raised its position in shares of Lockheed Martin by 101.7% in the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company's stock valued at $689,000 after buying an additional 594 shares during the last quarter. Verity & Verity LLC lifted its stake in shares of Lockheed Martin by 3.2% during the 2nd quarter. Verity & Verity LLC now owns 34,236 shares of the aerospace company's stock worth $15,992,000 after purchasing an additional 1,071 shares during the period. Finally, Watts Gwilliam & Co. LLC purchased a new position in Lockheed Martin during the third quarter worth about $1,096,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of research analyst reports. TD Cowen lifted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. StockNews.com lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Finally, Melius upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $611.00.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded down $0.58 during mid-day trading on Wednesday, hitting $546.22. The company had a trading volume of 100,306 shares, compared to its average volume of 1,051,469. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The stock has a market cap of $131.06 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 4.62 and a beta of 0.47. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07. The firm's 50 day simple moving average is $579.81 and its two-hundred day simple moving average is $516.93.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the business earned $6.77 earnings per share. Lockheed Martin's revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.42%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio is presently 48.30%.

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.

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