New York State Common Retirement Fund Has $165.35 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

New York State Common Retirement Fund cut its position in Lockheed Martin Co. (NYSE:LMT) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,853 shares of the aerospace company’s stock after selling 23,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Lockheed Martin were worth $165,345,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LMT. Stokes Family Office LLC bought a new position in Lockheed Martin in the 1st quarter worth approximately $425,000. FORVIS Wealth Advisors LLC lifted its position in Lockheed Martin by 10.9% in the first quarter. FORVIS Wealth Advisors LLC now owns 1,113 shares of the aerospace company’s stock worth $506,000 after purchasing an additional 109 shares during the period. Norden Group LLC boosted its stake in Lockheed Martin by 96.0% during the first quarter. Norden Group LLC now owns 1,186 shares of the aerospace company’s stock worth $540,000 after buying an additional 581 shares in the last quarter. Mission Wealth Management LP increased its holdings in Lockheed Martin by 19.0% in the 1st quarter. Mission Wealth Management LP now owns 4,295 shares of the aerospace company’s stock valued at $1,954,000 after buying an additional 686 shares during the period. Finally, Prosperity Consulting Group LLC raised its stake in shares of Lockheed Martin by 13.5% in the 1st quarter. Prosperity Consulting Group LLC now owns 1,678 shares of the aerospace company’s stock valued at $763,000 after buying an additional 199 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT traded up $0.29 during mid-day trading on Friday, hitting $546.34. 61,592 shares of the company traded hands, compared to its average volume of 1,051,980. The stock has a market capitalization of $129.50 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 4.47 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The business has a 50-day moving average of $579.44 and a 200 day moving average of $517.34. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.77 earnings per share. As a group, equities analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LMT. Bank of America reissued a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays raised their target price on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Morgan Stanley increased their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $611.00.

About Lockheed Martin

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.