Texas Permanent School Fund Corp Sells 1,135 Shares of Lockheed Martin Co. (NYSE:LMT)

Texas Permanent School Fund Corp lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 44,455 shares of the aerospace company’s stock after selling 1,135 shares during the period. Texas Permanent School Fund Corp’s holdings in Lockheed Martin were worth $20,221,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LMT. First Pacific Financial bought a new position in shares of Lockheed Martin in the first quarter worth about $25,000. Altshuler Shaham Ltd bought a new position in shares of Lockheed Martin in the fourth quarter worth about $26,000. Activest Wealth Management boosted its stake in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 60 shares during the period. Iron Horse Wealth Management LLC boosted its stake in shares of Lockheed Martin by 1,925.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 77 shares during the period. Finally, Thompson Investment Management Inc. bought a new position in shares of Lockheed Martin in the first quarter worth about $38,000. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LMT. The Goldman Sachs Group dropped their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Citigroup boosted their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Finally, StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average price target of $485.40.

Lockheed Martin Trading Down 0.1 %

LMT stock traded down $0.63 during midday trading on Thursday, reaching $460.38. 1,131,865 shares of the company traded hands, compared to its average volume of 1,068,534. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $479.50. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The business has a 50 day moving average of $465.00 and a 200-day moving average of $451.30. The firm has a market capitalization of $110.46 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 4.35 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. The firm had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.43 earnings per share. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.17 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.74%. Lockheed Martin’s dividend payout ratio is 46.10%.

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.