Retirement Systems of Alabama cut its position in shares of Lockheed Martin Corp. (NYSE:LMT) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 243,784 shares of the company’s stock after selling 12 shares during the period. Retirement Systems of Alabama’s holdings in Lockheed Martin Corp. were worth $60,500,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new stake in shares of Lockheed Martin Corp. during the second quarter worth about $103,000. Zions Bancorporation increased its stake in shares of Lockheed Martin Corp. by 102.3% in the first quarter. Zions Bancorporation now owns 809 shares of the company’s stock worth $182,000 after buying an additional 409 shares in the last quarter. Williams Jones & Associates LLC bought a new stake in shares of Lockheed Martin Corp. during the first quarter worth about $185,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Lockheed Martin Corp. by 4.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 774 shares of the company’s stock worth $192,000 after buying an additional 33 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. bought a new stake in shares of Lockheed Martin Corp. during the second quarter worth about $201,000. Institutional investors own 83.79% of the company’s stock.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.02% during midday trading on Wednesday, hitting $245.75. 1,352,642 shares of the stock traded hands. The company’s 50-day moving average is $246.97 and its 200 day moving average is $240.87. Lockheed Martin Corp. has a 12-month low of $200.47 and a 12-month high of $266.93. The firm has a market cap of $74.44 billion, a P/E ratio of 20.46 and a beta of 0.58.
Lockheed Martin Corp. (NYSE:LMT) last issued its earnings results on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, beating the Zacks’ consensus estimate of $2.93 by $0.39. The business earned $12.90 billion during the quarter, compared to analysts’ expectations of $12.56 billion. Lockheed Martin Corp. had a net margin of 7.37% and a return on equity of 119.66%. During the same period in the prior year, the business earned $2.94 earnings per share. On average, analysts anticipate that Lockheed Martin Corp. will post $11.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 1st will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. The ex-dividend date is Tuesday, November 29th. Lockheed Martin Corp.’s dividend payout ratio is 56.51%.
LMT has been the topic of a number of research reports. Argus reiterated a “buy” rating and issued a $290.00 price target on shares of Lockheed Martin Corp. in a report on Friday, August 5th. Zacks Investment Research upgraded shares of Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $279.00 price target on the stock in a report on Tuesday, July 5th. Drexel Hamilton reissued a “buy” rating and issued a $284.00 price objective on shares of Lockheed Martin Corp. in a research note on Wednesday, July 20th. Citigroup Inc. reissued a “buy” rating and issued a $284.00 price objective (up from $239.00) on shares of Lockheed Martin Corp. in a research note on Tuesday, September 6th. Finally, Berenberg Bank cut shares of Lockheed Martin Corp. from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $250.00 to $260.00 in a research note on Tuesday, May 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $257.32.
In other news, insider Orlando D. Carvalho sold 12,700 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $254.78, for a total value of $3,235,706.00. Following the completion of the sale, the insider now directly owns 29,120 shares in the company, valued at $7,419,193.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sondra L. Barbour sold 66,460 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total transaction of $16,996,480.40. Following the completion of the sale, the insider now owns 31,200 shares of the company’s stock, valued at $7,979,088. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
About Lockheed Martin Corp.
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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