Maryland State Retirement & Pension System Has $4.41 Million Holdings in Lockheed Martin Corporation (NYSE:LMT)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Lockheed Martin Corporation by 13.7% in the first quarter, holding 9,863 shares valued at approximately $4.4 million.
• Lockheed Martin reported an earnings per share (EPS) of $7.29 for the last quarter, beating estimates but with quarterly revenue of $18.16 billion, slightly below consensus forecasts.
• The company announced a quarterly dividend of $3.30 per share, representing a 3.1% yield, with the dividend date set for September 26.

Maryland State Retirement & Pension System cut its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 13.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,863 shares of the aerospace company's stock after selling 1,571 shares during the period. Maryland State Retirement & Pension System's holdings in Lockheed Martin were worth $4,406,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LMT. Eagle Capital Management LLC boosted its position in Lockheed Martin by 0.3% during the 4th quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock worth $5,261,000 after purchasing an additional 32 shares during the period. Brighton Jones LLC lifted its position in shares of Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after purchasing an additional 191 shares during the last quarter. Hudson Portfolio Management LLC bought a new position in shares of Lockheed Martin during the fourth quarter worth about $256,000. Azimuth Capital Investment Management LLC raised its stake in Lockheed Martin by 3.7% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 10,759 shares of the aerospace company's stock worth $5,228,000 after acquiring an additional 386 shares during the period. Finally, CenterBook Partners LP raised its stake in Lockheed Martin by 97.4% during the fourth quarter. CenterBook Partners LP now owns 3,217 shares of the aerospace company's stock worth $1,563,000 after acquiring an additional 1,587 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $5.07 on Friday, hitting $425.68. 1,477,499 shares of the company were exchanged, compared to its average volume of 2,270,781. The company's 50 day moving average price is $456.14 and its two-hundred day moving average price is $458.67. Lockheed Martin Corporation has a one year low of $410.11 and a one year 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 has a market capitalization of $99.38 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.51 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping 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 firm posted $7.11 EPS. The business's revenue was up .2% compared to the same quarter last year. Research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is 74.32%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped their price target on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a "market perform" rating in a report on Monday, July 14th. Wall Street Zen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada decreased their price objective on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research note on Wednesday, July 23rd. Finally, UBS Group decreased their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and an average price target of $506.65.

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