Kentucky Retirement Systems Sells 1,313 Shares of Lockheed Martin Co. (NYSE:LMT)

Kentucky Retirement Systems trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,779 shares of the aerospace company’s stock after selling 1,313 shares during the quarter. Kentucky Retirement Systems’ holdings in Lockheed Martin were worth $8,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. TIAA Trust National Association boosted its stake in shares of Lockheed Martin by 3.5% during the 1st quarter. TIAA Trust National Association now owns 9,811 shares of the aerospace company’s stock worth $4,463,000 after acquiring an additional 334 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Lockheed Martin during the first quarter valued at $2,325,000. Catalytic Wealth RIA LLC grew its holdings in Lockheed Martin by 3.1% during the first quarter. Catalytic Wealth RIA LLC now owns 1,021 shares of the aerospace company’s stock valued at $464,000 after purchasing an additional 31 shares during the period. Ironwood Investment Counsel LLC increased its position in Lockheed Martin by 2.3% in the first quarter. Ironwood Investment Counsel LLC now owns 14,466 shares of the aerospace company’s stock worth $6,580,000 after buying an additional 325 shares in the last quarter. Finally, Cynosure Group LLC bought a new position in shares of Lockheed Martin in the first quarter worth about $340,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $534.82 on Friday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s fifty day moving average is $576.52 and its 200 day moving average is $524.37. The company has a market cap of $126.77 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 4.56 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.77 EPS. Sell-side analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.47%. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. UBS Group lifted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Finally, Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued 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 “Moderate Buy” and an average target price of $611.00.

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.