State of Michigan Retirement System Sells 300 Shares of Lockheed Martin Co. (NYSE:LMT)

State of Michigan Retirement System cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,518 shares of the aerospace company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Lockheed Martin were worth $30,380,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin in the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of Lockheed Martin in the third quarter worth about $40,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth about $35,000. Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin in the third quarter worth about $42,000. Finally, Vestor Capital LLC bought a new position in shares of Lockheed Martin in the third quarter worth about $46,000. 74.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LMT has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lowered their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $553.67.

Insider Activity

In related news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 in the last 90 days. 0.17% of the stock is owned by company insiders.

Lockheed Martin Stock Up 0.2 %

Shares of LMT opened at $451.44 on Tuesday. The business’s 50 day simple moving average is $465.09 and its 200-day simple moving average is $524.06. Lockheed Martin Co. has a one year low of $419.70 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a market capitalization of $106.26 billion, a P/E ratio of 20.28, a PEG ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

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.