Lockheed Martin Co. (NYSE:LMT) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Lockheed Martin Co. (NYSE:LMT) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,311 shares of the aerospace company’s stock after selling 795 shares during the quarter. Retirement Systems of Alabama’s holdings in Lockheed Martin were worth $27,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin in the 3rd quarter worth approximately $26,000. Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the third quarter worth $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the second quarter worth $27,000. Sachetta LLC grew its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares during the period. Finally, Stephens Consulting LLC increased its holdings in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America reissued a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Susquehanna dropped their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Price Performance

LMT stock opened at $494.67 on Friday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market capitalization of $117.26 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The business has a 50 day simple moving average of $552.79 and a 200-day simple moving average of $531.92.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the business earned $6.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.67%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 47.79%.

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.