Lockheed Martin Corporation (NYSE:LMT) Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board has increased its holdings in Lockheed Martin Corporation by 2.0%, acquiring an additional 2,107 shares during the first quarter, bringing its total to 108,055 shares valued at approximately $48.27 million.
• Lockheed Martin reported earnings of $7.29 per share for the latest quarter, exceeding analysts' estimates of $6.57, with a net margin of 5.85% and revenues of $18.16 billion.
• The company announced a quarterly dividend of $3.30, yielding 3.1%, with the ex-dividend date set for September 2nd.

Public Sector Pension Investment Board boosted its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,055 shares of the aerospace company's stock after purchasing an additional 2,107 shares during the period. Public Sector Pension Investment Board's holdings in Lockheed Martin were worth $48,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of LMT. OMNI 360 Wealth Inc. raised its position in shares of Lockheed Martin by 2.5% in the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after buying an additional 22 shares in the last quarter. 49 Wealth Management LLC boosted its stake in Lockheed Martin by 3.4% during the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after acquiring an additional 22 shares in the last quarter. Tealwood Asset Management Inc. lifted its stake in shares of Lockheed Martin by 0.4% in the first quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company's stock valued at $2,559,000 after buying an additional 23 shares in the last quarter. Southland Equity Partners LLC lifted its stake in shares of Lockheed Martin by 3.1% in the first quarter. Southland Equity Partners LLC now owns 766 shares of the aerospace company's stock valued at $342,000 after buying an additional 23 shares in the last quarter. Finally, Nvest Financial LLC lifted its position in shares of Lockheed Martin by 0.6% during the first quarter. Nvest Financial LLC now owns 3,621 shares of the aerospace company's stock valued at $1,617,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LMT shares. Susquehanna reduced their target price on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Sanford C. Bernstein set a $551.00 target price on shares of Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. Wall Street Zen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada reduced their target price 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, Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Fifteen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $4.94 during trading on Tuesday, hitting $431.20. The company's stock had a trading volume of 1,491,835 shares, compared to its average volume of 2,282,928. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $618.95. The firm has a market cap of $100.67 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 1.49 and a beta of 0.27. The company has a 50-day moving average of $454.11 and a 200-day moving average of $457.44. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.57 by $0.72. The company had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.11 earnings per share. On average, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 3.1%. Lockheed Martin's dividend payout ratio is 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.