Lockheed Martin Corporation (NYSE:LMT) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 62,607 shares of the aerospace company's stock after acquiring an additional 627 shares during the quarter. Arizona State Retirement System's holdings in Lockheed Martin were worth $27,967,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin during the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $42,000. 74.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LMT shares. Sanford C. Bernstein set a $551.00 price objective on Lockheed Martin and gave the company a "market perform" rating in a report on Monday. Royal Bank Of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target for the company in a report on Wednesday, April 16th. Finally, Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $532.69.

Lockheed Martin Price Performance

NYSE LMT traded down $2.61 during trading hours on Tuesday, reaching $470.96. 1,038,812 shares of the stock traded hands, compared to its average volume of 1,366,783. The stock has a 50 day simple moving average of $469.59 and a two-hundred day simple moving average of $464.56. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The company has a market cap of $110.35 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. On average, analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.80%. Lockheed Martin's dividend payout ratio is currently 57.02%.

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.