Teachers Retirement System of The State of Kentucky lessened its position in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,417 shares of the aerospace company’s stock after selling 758 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lockheed Martin were worth $7,688,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Capital World Investors increased its holdings in shares of Lockheed Martin by 19.0% during the first quarter. Capital World Investors now owns 16,021,414 shares of the aerospace company’s stock worth $7,071,954,000 after purchasing an additional 2,558,881 shares during the period. GQG Partners LLC bought a new position in shares of Lockheed Martin during the first quarter worth approximately $763,213,000. Vanguard Group Inc. increased its holdings in shares of Lockheed Martin by 8.3% during the first quarter. Vanguard Group Inc. now owns 22,579,851 shares of the aerospace company’s stock worth $9,966,746,000 after purchasing an additional 1,727,343 shares during the period. Invesco Ltd. increased its holdings in shares of Lockheed Martin by 49.6% during the first quarter. Invesco Ltd. now owns 1,858,507 shares of the aerospace company’s stock worth $820,347,000 after purchasing an additional 615,798 shares during the period. Finally, Capital Research Global Investors increased its holdings in shares of Lockheed Martin by 16.1% during the fourth quarter. Capital Research Global Investors now owns 3,288,398 shares of the aerospace company’s stock worth $1,168,730,000 after purchasing an additional 456,524 shares during the period. 75.50% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Royal Bank of Canada initiated coverage on shares of Lockheed Martin in a report on Monday, August 29th. They set a “sector perform” rating and a $460.00 target price on the stock. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $448.92.
Lockheed Martin Stock Performance
Lockheed Martin (NYSE:LMT – Get Rating) last issued its earnings results on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The company had revenue of $15.45 billion during the quarter, compared to analyst estimates of $16.02 billion. During the same quarter in the prior year, the business earned $7.13 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin Co. will post 26.8 earnings per share for the current fiscal year.
Lockheed Martin Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Thursday, September 1st will be issued a dividend of $2.80 per share. The ex-dividend date is Wednesday, August 31st. This represents a $11.20 dividend on an annualized basis and a dividend yield of 2.70%. Lockheed Martin’s dividend payout ratio (DPR) is presently 64.81%.
Insider Transactions at Lockheed Martin
In other Lockheed Martin news, Director John Donovan purchased 632 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were bought at an average price of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the acquisition, the director now owns 1,200 shares in the company, valued at $475,392. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Gregory M. Ulmer sold 6,929 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Donovan bought 632 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was purchased at an average price of $396.16 per share, for a total transaction of $250,373.12. Following the acquisition, the director now owns 1,200 shares of the company’s stock, valued at $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.
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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
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