Lockheed Martin Co. (NYSE:LMT) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,434 shares of the aerospace company’s stock after selling 879 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Lockheed Martin were worth $5,556,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the 3rd quarter valued at about $26,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $35,000. Legacy Investment Solutions LLC bought a new stake in shares of Lockheed Martin during the third quarter valued at approximately $42,000. Sugar Maple Asset Management LLC acquired a new position in shares of Lockheed Martin during the fourth quarter worth approximately $47,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Lockheed Martin in the 4th quarter worth approximately $52,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LMT shares. Morgan Stanley cut their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Citigroup reduced their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. UBS Group reduced their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Finally, Barclays lowered their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by corporate insiders.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $470.44 on Thursday. The stock’s fifty day simple moving average is $461.54 and its 200 day simple moving average is $516.47. The stock has a market capitalization of $110.73 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.07 and a beta of 0.43. 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 Co. has a 52-week low of $419.70 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.81%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.