Lockheed Martin Corporation (NYSE:LMT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,233 shares of the aerospace company’s stock after selling 6,618 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lockheed Martin were worth $32,267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Eagle Capital Management LLC raised its stake in Lockheed Martin by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company’s stock worth $5,261,000 after acquiring an additional 32 shares in the last quarter. Brighton Jones LLC increased its stake in Lockheed Martin by 5.0% in the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the period. Gabelli Funds LLC increased its stake in Lockheed Martin by 9.6% in the fourth quarter. Gabelli Funds LLC now owns 11,378 shares of the aerospace company’s stock valued at $5,529,000 after purchasing an additional 1,000 shares during the period. Alexis Investment Partners LLC acquired a new position in Lockheed Martin in the fourth quarter valued at $230,000. Finally, Commerce Bank increased its stake in Lockheed Martin by 7.6% in the fourth quarter. Commerce Bank now owns 176,013 shares of the aerospace company’s stock valued at $85,532,000 after purchasing an additional 12,483 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.1%

LMT stock opened at $437.78 on Friday. The company has a market cap of $102.21 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.54 and a beta of 0.27. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The company’s 50-day moving average price is $451.63 and its 200 day moving average price is $456.74. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. The firm had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.11 earnings per share. On average, research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 3.0%. Lockheed Martin’s payout ratio is presently 74.32%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Jefferies Financial Group dropped their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Monday, April 28th. Vertical Research restated a “hold” rating and issued a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Baird R W upgraded shares of Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Finally, Truist Financial lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the company from $554.00 to $440.00 in a research note on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and an average target price of $506.65.

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.