Teacher Retirement System of Texas Cuts Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Teacher Retirement System of Texas cut its stake in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 46.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,919 shares of the aerospace company's stock after selling 73,694 shares during the quarter. Teacher Retirement System of Texas' holdings in Lockheed Martin were worth $37,934,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin in the 4th quarter worth $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin during the fourth quarter valued at about $35,000. Redwood Park Advisors LLC bought a new stake in Lockheed Martin during the fourth quarter valued at about $40,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Lockheed Martin in the fourth quarter worth about $42,000. Institutional investors own 74.19% of the company's stock.

Analysts Set New Price Targets

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

Lockheed Martin Trading Up 0.2%

Shares of LMT traded up $0.76 during mid-day trading on Friday, reaching $463.31. 707,859 shares of the company's stock traded hands, compared to its average volume of 1,354,786. 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 50-day moving average is $470.89 and its two-hundred day moving average is $465.87. Lockheed Martin Corporation has a 12 month low of $418.88 and a 12 month high of $618.95. The stock has a market cap of $108.55 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.61 and a beta of 0.28.

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

Lockheed Martin Dividend Announcement

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

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.