New York State Teachers Retirement System Grows Position in Lockheed Martin Co. (NYSE:LMT)

New York State Teachers Retirement System lifted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 372,913 shares of the aerospace company’s stock after purchasing an additional 12,638 shares during the quarter. New York State Teachers Retirement System’s holdings in Lockheed Martin were worth $145,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Investment Advisors LLC increased its stake in Lockheed Martin by 7.8% in the 3rd quarter. Capital Investment Advisors LLC now owns 25,067 shares of the aerospace company’s stock worth $9,777,000 after purchasing an additional 1,804 shares during the period. Davis R M Inc. boosted its position in shares of Lockheed Martin by 69.1% during the third quarter. Davis R M Inc. now owns 1,133 shares of the aerospace company’s stock valued at $442,000 after purchasing an additional 463 shares in the last quarter. Trust Co. of Vermont boosted its position in shares of Lockheed Martin by 2.2% during the third quarter. Trust Co. of Vermont now owns 12,803 shares of the aerospace company’s stock valued at $4,994,000 after purchasing an additional 278 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Lockheed Martin by 1.3% in the third quarter. Raymond James Trust N.A. now owns 29,020 shares of the aerospace company’s stock worth $11,319,000 after acquiring an additional 373 shares in the last quarter. Finally, First Merchants Corp bought a new stake in Lockheed Martin in the third quarter worth $699,000. 78.41% of the stock is currently owned by institutional investors.

LMT stock traded down $1.88 during midday trading on Friday, reaching $372.86. 154,045 shares of the company traded hands, compared to its average volume of 1,128,508. Lockheed Martin Co. has a 52-week low of $241.18 and a 52-week high of $399.96. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.96 and a current ratio of 1.28. The business has a 50 day moving average of $384.24 and a 200-day moving average of $359.79. The firm has a market capitalization of $105.36 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 2.43 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.64. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The business had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $14.87 billion. During the same period in the prior year, the business posted $5.14 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts anticipate that Lockheed Martin Co. will post 21.61 earnings per share for the current year.

Lockheed Martin announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 26th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $2.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.20. This represents a $9.60 dividend on an annualized basis and a yield of 2.57%. Lockheed Martin’s dividend payout ratio is 49.30%.

In related news, Director James D. Taiclet, Jr. acquired 1,354 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were acquired at an average cost of $376.32 per share, for a total transaction of $509,537.28. Following the completion of the transaction, the director now directly owns 1,354 shares in the company, valued at approximately $509,537.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Several research analysts have recently weighed in on LMT shares. UBS Group boosted their price target on Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Credit Suisse Group cut their price target on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a report on Wednesday. ValuEngine lowered Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, DZ Bank reissued a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $365.77.

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. It operates through four 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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