Lockheed Martin Co. (NYSE:LMT) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,820 shares of the aerospace company’s stock after selling 1,487 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Lockheed Martin were worth $60,468,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Clean Yield Group acquired a new stake in Lockheed Martin during the second quarter worth about $25,000. Sierra Capital LLC acquired a new stake in shares of Lockheed Martin in the first quarter valued at about $36,000. Selective Wealth Management Inc. acquired a new stake in shares of Lockheed Martin in the second quarter valued at about $38,000. Paragon Wealth Strategies LLC acquired a new stake in shares of Lockheed Martin in the second quarter valued at about $42,000. Finally, Godsey & Gibb Associates grew its stake in shares of Lockheed Martin by 91.8% in the second quarter. Godsey & Gibb Associates now owns 117 shares of the aerospace company’s stock valued at $44,000 after buying an additional 56 shares in the last quarter. Institutional investors own 74.51% of the company’s stock.

NYSE:LMT opened at $331.91 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.79. The business’s 50 day moving average is $353.68 and its two-hundred day moving average is $371.65. Lockheed Martin Co. has a 52 week low of $319.81 and a 52 week high of $396.99. The company has a market cap of $91.91 billion, a PE ratio of 13.01, a P/E/G ratio of 3.23 and a beta of 0.98.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Monday, October 25th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.24. The business had revenue of $16.03 billion for the quarter, compared to the consensus estimate of $17.12 billion. Lockheed Martin had a return on equity of 123.35% and a net margin of 10.69%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $6.25 EPS. As a group, sell-side analysts expect that Lockheed Martin Co. will post 23.45 EPS for the current fiscal year.

Lockheed Martin announced that its board has approved a stock repurchase plan on Thursday, September 23rd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 27th. Investors of record on Wednesday, December 1st will be given a $2.80 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.60. This represents a $11.20 annualized dividend and a yield of 3.37%. The ex-dividend date is Tuesday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is currently 41.87%.

A number of equities research analysts have recently issued reports on the company. Cowen lowered Lockheed Martin from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $400.00 to $375.00 in a research note on Wednesday, September 29th. Credit Suisse Group reiterated a “neutral” rating and issued a $370.20 target price (down previously from $394.00) on shares of Lockheed Martin in a research note on Tuesday, July 27th. Jefferies Financial Group restated a “neutral” rating on shares of Lockheed Martin in a research note on Friday, September 10th. Wells Fargo & Company lowered their price objective on Lockheed Martin from $385.00 to $340.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Robert W. Baird lowered their price objective on Lockheed Martin from $394.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $385.17.

About Lockheed Martin

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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