California Public Employees Retirement System Sells 9,810 Shares of Lockheed Martin Co. (NYSE:LMT)

California Public Employees Retirement System lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 790,493 shares of the aerospace company’s stock after selling 9,810 shares during the quarter. California Public Employees Retirement System’s holdings in Lockheed Martin were worth $384,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin in the 3rd quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.2 %

Shares of NYSE LMT opened at $441.41 on Friday. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The firm has a market cap of $103.90 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business has a fifty day simple moving average of $456.49 and a two-hundred day simple moving average of $510.30. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.99%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last ninety days. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $550.00 to $480.00 in a research report on Thursday. Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Susquehanna dropped their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $539.53.

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.