State of New Jersey Common Pension Fund D Cuts Position in Lockheed Martin Co. (LMT)

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State of New Jersey Common Pension Fund D trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,000 shares of the aerospace company’s stock after selling 10,000 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.09% of Lockheed Martin worth $88,219,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Financial Gravity Wealth Inc. acquired a new position in shares of Lockheed Martin during the 1st quarter worth about $359,000. Amundi Pioneer Asset Management Inc. grew its position in shares of Lockheed Martin by 1.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 161,869 shares of the aerospace company’s stock worth $54,700,000 after buying an additional 1,600 shares during the period. Assetmark Inc. grew its position in shares of Lockheed Martin by 6,878.0% during the 1st quarter. Assetmark Inc. now owns 15,212 shares of the aerospace company’s stock worth $5,141,000 after buying an additional 14,994 shares during the period. Sandler Capital Management acquired a new position in shares of Lockheed Martin during the 1st quarter worth about $3,819,000. Finally, Braun Bostich & Associates Inc. acquired a new position in shares of Lockheed Martin during the 1st quarter worth about $156,000. 77.84% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley set a $386.00 price objective on Lockheed Martin and gave the company a “buy” rating in a report on Thursday. Credit Suisse Group lifted their price objective on Lockheed Martin from $340.00 to $368.00 and gave the company a “neutral” rating in a report on Wednesday, October 3rd. UBS Group began coverage on Lockheed Martin in a report on Wednesday, August 15th. They set a “buy” rating and a $400.00 price objective on the stock. Finally, Berenberg Bank upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Lockheed Martin has an average rating of “Buy” and an average target price of $377.14.

In other Lockheed Martin news, Chairman Marillyn A. Hewson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $323.68, for a total value of $8,092,000.00. Following the sale, the chairman now owns 90,625 shares in the company, valued at approximately $29,333,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 7,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total value of $2,346,390.00. Following the completion of the sale, the senior vice president now owns 9,869 shares in the company, valued at approximately $3,194,003.16. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

NYSE LMT traded up $4.56 during trading on Monday, hitting $332.18. The stock had a trading volume of 47,321 shares, compared to its average volume of 1,429,923. The stock has a market capitalization of $98.52 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.74 and a beta of 0.71. The company has a debt-to-equity ratio of 28.14, a quick ratio of 0.97 and a current ratio of 1.19. Lockheed Martin Co. has a 12 month low of $291.52 and a 12 month high of $363.00.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 24th. The aerospace company reported $4.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.92 by $0.39. The firm had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.72 billion. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.23 EPS. On average, equities research analysts forecast that Lockheed Martin Co. will post 17.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be paid a $2.20 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date is Friday, November 30th. This represents a $8.80 annualized dividend and a yield of 2.65%. Lockheed Martin’s payout ratio is presently 60.02%.

Lockheed Martin declared that its board has authorized a stock buyback program on Thursday, September 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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 (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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