Lockheed Martin Corporation $LMT Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Lockheed Martin by 1.4%, now owning 71,240 shares valued at approximately $32.99 million.
• Lockheed Martin recently announced a quarterly dividend increase to $3.45, with a dividend yield of 2.8%, affecting shareholders on record by December 1st.
• In its latest earnings report, Lockheed Martin posted $6.95 earnings per share, exceeding expectations, with revenue reaching $18.61 billion for the quarter.

State of New Jersey Common Pension Fund D lowered its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,240 shares of the aerospace company's stock after selling 993 shares during the period. State of New Jersey Common Pension Fund D's holdings in Lockheed Martin were worth $32,994,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LMT. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Lockheed Martin in the second quarter valued at $28,000. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin in the first quarter valued at $31,000. Frazier Financial Advisors LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at $34,000. GFG Capital LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at $43,000. Finally, Bernard Wealth Management Corp. lifted its holdings in shares of Lockheed Martin by 251.9% in the second quarter. Bernard Wealth Management Corp. now owns 95 shares of the aerospace company's stock valued at $44,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Vertical Research restated a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Alembic Global Advisors raised shares of Lockheed Martin from a "neutral" rating to an "overweight" rating in a research note on Thursday, August 28th. UBS Group dropped their price target on shares of Lockheed Martin from $514.00 to $513.00 and set a "neutral" rating on the stock in a research note on Wednesday. Morgan Stanley upped their price target on shares of Lockheed Martin from $530.00 to $630.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of "Hold" and a consensus price target of $513.47.

Lockheed Martin Trading Down 0.5%

Lockheed Martin stock opened at $485.59 on Friday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.83. The company has a market capitalization of $112.37 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 1.61 and a beta of 0.28. Lockheed Martin Corporation has a one year low of $410.11 and a one year high of $576.43. The company's fifty day moving average price is $477.51 and its two-hundred day moving average price is $466.37.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.33 by $0.62. Lockheed Martin had a return on equity of 111.84% and a net margin of 5.73%.The company had revenue of $18.61 billion for the quarter, compared to the consensus estimate of $18.45 billion. During the same period last year, the business posted $6.84 earnings per share. The firm's revenue was up 8.8% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a $3.45 dividend. This is an increase from Lockheed Martin's previous quarterly dividend of $3.30. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin's dividend payout ratio (DPR) is 77.05%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

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