New York State Teachers Retirement System Decreases Stake in Lockheed Martin Corporation (NYSE:LMT)

New York State Teachers Retirement System decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 193,892 shares of the aerospace company's stock after selling 10,438 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Lockheed Martin worth $86,613,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of 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 worth $889,593,000 after purchasing an additional 1,986,600 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter worth about $526,587,000. Leigh Baldwin & CO. LLC bought a new stake in Lockheed Martin during the 4th quarter valued at about $451,985,000. Finally, Capital Research Global Investors bought a new stake in Lockheed Martin during the 4th quarter valued at about $229,987,000. Institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Royal Bank Of Canada cut Lockheed Martin from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. UBS Group raised their price objective on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Finally, Wells Fargo & Company dropped their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Stock Up 1.1%

Shares of LMT stock traded up $4.84 during mid-day trading on Monday, hitting $463.43. 1,203,203 shares of the stock traded hands, compared to its average volume of 1,347,978. 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 $108.58 billion, a P/E ratio of 20.02, a P/E/G ratio of 1.60 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The stock's fifty day moving average is $470.80 and its two-hundred day moving average is $466.31.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 7.66% and a return on equity of 104.09%. Equities analysts predict that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.85%. Lockheed Martin's dividend payout ratio (DPR) is 57.02%.

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.