New York State Teachers Retirement System Cuts Holdings in Lockheed Martin Corporation $LMT

Key Points

• The New York State Teachers Retirement System reduced its holdings in Lockheed Martin Corporation by 0.9% during the second quarter, now owning approximately 192,242 shares valued at about $89 million.
• Lockheed Martin reported $7.29 EPS for the last quarter, exceeding analyst expectations of $6.57, although revenue of $18.16 billion fell slightly short of the estimated $18.59 billion.
• Lockheed Martin has announced a quarterly dividend increase to $3.45 per share, representing a 2.8% yield and marking a rise from the previous dividend of $3.30.

New York State Teachers Retirement System lessened its stake in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,242 shares of the aerospace company's stock after selling 1,650 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Lockheed Martin worth $89,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LMT. Charles Schwab Investment Management Inc. grew its stake in 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 worth $3,587,444,000 after buying an additional 560,457 shares in the last quarter. Nuveen LLC purchased a new position in Lockheed Martin in the 1st quarter worth approximately $221,790,000. AQR Capital Management LLC grew its stake in Lockheed Martin by 76.7% in the 1st quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock worth $361,045,000 after buying an additional 350,796 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Lockheed Martin by 17,506.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 304,413 shares of the aerospace company's stock worth $135,985,000 after buying an additional 302,684 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Lockheed Martin by 59.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 747,373 shares of the aerospace company's stock worth $333,859,000 after buying an additional 278,121 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Down 1.2%

NYSE:LMT opened at $499.17 on Thursday. The company has a fifty day moving average of $469.31 and a 200 day moving average of $464.06. Lockheed Martin Corporation has a 52 week low of $410.11 and a 52 week high of $618.95. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47. The firm has a market capitalization of $116.54 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.78 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the business posted $7.11 EPS. The firm's revenue 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, research analysts predict that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company 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 dividend of $3.45 per share. The ex-dividend date is Monday, December 1st. This represents a $13.80 dividend on an annualized basis and a yield of 2.8%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.30. Lockheed Martin's dividend payout ratio (DPR) is currently 77.70%.

Analysts Set New Price Targets

A number of equities analysts have commented on LMT shares. JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. TD Cowen restated a "hold" rating and issued a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a report on Thursday, July 10th. Royal Bank Of Canada boosted their price objective on shares of Lockheed Martin from $440.00 to $525.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 7th. Wall Street Zen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Cowen lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $510.29.

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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