New York State Common Retirement Fund Sells 33,485 Shares of Lockheed Martin Corporation (NYSE:LMT)

New York State Common Retirement Fund decreased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,768 shares of the aerospace company's stock after selling 33,485 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Lockheed Martin worth $109,787,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LMT. Eagle Capital Management LLC boosted its position in Lockheed Martin by 0.3% during the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after purchasing an additional 32 shares in the last quarter. Brighton Jones LLC boosted its position in Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after purchasing an additional 191 shares in the last quarter. Hudson Portfolio Management LLC bought a new stake in Lockheed Martin during the fourth quarter valued at about $256,000. Proficio Capital Partners LLC boosted its position in Lockheed Martin by 10.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,543 shares of the aerospace company's stock valued at $1,236,000 after purchasing an additional 250 shares in the last quarter. Finally, Choate Investment Advisors boosted its position in Lockheed Martin by 11.3% during the fourth quarter. Choate Investment Advisors now owns 1,268 shares of the aerospace company's stock valued at $616,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Up 0.7%

Shares of NYSE:LMT opened at $467.48 on Monday. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The stock has a market cap of $109.53 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.63 and a beta of 0.28. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The business has a 50-day moving average price of $469.54 and a 200-day moving average price of $464.67.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. Equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 yield of 2.82%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio is currently 57.02%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price objective on Lockheed Martin from $579.00 to $554.00 and set a "buy" rating on the stock in a research report on Friday. Royal Bank Of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. 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, Jefferies Financial Group lowered their price target on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus target price of $531.47.

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.

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