State of Alaska Department of Revenue Grows Position in Lockheed Martin Co. (NYSE:LMT)

State of Alaska Department of Revenue grew its stake in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,301 shares of the aerospace company’s stock after buying an additional 879 shares during the period. State of Alaska Department of Revenue’s holdings in Lockheed Martin were worth $22,037,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,885,865 shares of the aerospace company’s stock worth $8,840,580,000 after buying an additional 289,110 shares in the last quarter. FMR LLC grew its position in shares of Lockheed Martin by 39.9% in the second quarter. FMR LLC now owns 5,966,076 shares of the aerospace company’s stock valued at $2,565,175,000 after purchasing an additional 1,701,615 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Lockheed Martin by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,256,069 shares of the aerospace company’s stock valued at $2,320,030,000 after purchasing an additional 264,665 shares during the period. Franklin Resources Inc. grew its position in shares of Lockheed Martin by 2.9% in the second quarter. Franklin Resources Inc. now owns 2,448,118 shares of the aerospace company’s stock valued at $1,052,592,000 after purchasing an additional 69,906 shares during the period. Finally, GQG Partners LLC grew its position in shares of Lockheed Martin by 18.0% in the second quarter. GQG Partners LLC now owns 2,040,934 shares of the aerospace company’s stock valued at $877,886,000 after purchasing an additional 311,513 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Lockheed Martin Stock Down 1.6 %

Shares of LMT traded down $7.37 during midday trading on Friday, reaching $465.87. 6,525,176 shares of the company were exchanged, compared to its average volume of 1,179,312. The stock has a 50-day moving average price of $467.37 and a 200-day moving average price of $458.08. The company has a market cap of $118.57 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 2.57 and a beta of 0.68. Lockheed Martin Co. has a 1-year low of $373.67 and a 1-year high of $498.95. The company has a current ratio of 1.32, a quick ratio of 1.13 and a debt-to-equity ratio of 1.67.

Lockheed Martin (NYSE:LMT – Get Rating) last issued its quarterly earnings data on Tuesday, January 24th. The aerospace company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.41 by $0.38. The company had revenue of $18.99 billion for the quarter, compared to analysts’ expectations of $18.25 billion. Lockheed Martin had a return on equity of 68.01% and a net margin of 8.69%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.47 earnings per share. Research analysts expect that Lockheed Martin Co. will post 26.86 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Wednesday, March 1st will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, February 28th. Lockheed Martin’s dividend payout ratio is presently 55.27%.

Insiders Place Their Bets

In other Lockheed Martin news, Director John Donovan purchased 556 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The shares were acquired at an average price of $451.20 per share, for a total transaction of $250,867.20. Following the completion of the purchase, the director now owns 2,324 shares in the company, valued at approximately $1,048,588.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Timothy S. Cahill sold 2,534 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $479.44, for a total value of $1,214,900.96. Following the transaction, the executive vice president now owns 10,460 shares in the company, valued at $5,014,942.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Donovan purchased 556 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The stock was acquired at an average price of $451.20 per share, for a total transaction of $250,867.20. Following the purchase, the director now owns 2,324 shares of the company’s stock, valued at approximately $1,048,588.80. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on Lockheed Martin from $542.00 to $532.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 25th. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Monday, December 12th. The Goldman Sachs Group downgraded Lockheed Martin from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $388.00 to $332.00 in a research report on Friday, January 13th. Citigroup initiated coverage on Lockheed Martin in a research report on Thursday, December 8th. They set a “buy” rating and a $546.00 price target for the company. Finally, Vertical Research downgraded Lockheed Martin from a “buy” rating to a “hold” rating and set a $491.00 price target for the company. in a research report on Friday, January 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $490.43.

Lockheed Martin Company Profile

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Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.