State of New Jersey Common Pension Fund D Has $32.27 Million Holdings in Lockheed Martin Corporation $LMT

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Lockheed Martin by 8.4%, holding 72,233 shares valued at approximately $32.27 million after selling 6,618 shares.
• Lockheed Martin reported earnings per share of $7.29 for the last quarter, surpassing estimates, despite a slight revenue dip, with a total revenue of $18.16 billion.
• The company announced a quarterly dividend of $3.30 per share, with a 3.0% yield, set to be paid on September 26th to shareholders of record.

State of New Jersey Common Pension Fund D decreased its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,233 shares of the aerospace company's stock after selling 6,618 shares during the period. State of New Jersey Common Pension Fund D's holdings in Lockheed Martin were worth $32,267,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LMT. Charles Schwab Investment Management Inc. grew its stake in shares of Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after buying an additional 560,457 shares in the last quarter. Northern Trust Corp grew its holdings in Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after purchasing an additional 134,662 shares during the last quarter. Invesco Ltd. grew its holdings in Lockheed Martin by 0.6% during the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares during the last quarter. GAMMA Investing LLC grew its holdings in Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Lockheed Martin by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock valued at $580,317,000 after purchasing an additional 24,512 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on LMT. UBS Group lowered their price target on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. TD Cowen reiterated a "hold" rating and set a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Cowen downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and a consensus price target of $506.65.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded up $0.2780 on Tuesday, hitting $440.9180. The stock had a trading volume of 822,210 shares, compared to its average volume of 1,673,459. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The firm's 50 day moving average price is $450.83 and its 200-day moving average price is $456.59. The company has a market capitalization of $102.94 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.54 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the previous year, the company earned $7.11 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 74.32%.

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.