22,453 Shares in Lockheed Martin Co. (NYSE:LMT) Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) in the third quarter, HoldingsChannel reports. The firm acquired 22,453 shares of the aerospace company’s stock, valued at approximately $8,673,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Management Inc. grew its holdings in Lockheed Martin by 19.8% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 10,268 shares of the aerospace company’s stock valued at $4,415,000 after buying an additional 1,694 shares during the period. Regal Investment Advisors LLC grew its holdings in Lockheed Martin by 7.7% in the 3rd quarter. Regal Investment Advisors LLC now owns 626 shares of the aerospace company’s stock valued at $242,000 after buying an additional 45 shares during the period. Patron Partners LLC grew its holdings in Lockheed Martin by 4.1% in the 3rd quarter. Patron Partners LLC now owns 1,666 shares of the aerospace company’s stock valued at $644,000 after buying an additional 66 shares during the period. TD Asset Management Inc. grew its holdings in Lockheed Martin by 11.2% in the 3rd quarter. TD Asset Management Inc. now owns 111,720 shares of the aerospace company’s stock valued at $43,547,000 after buying an additional 11,212 shares during the period. Finally, Colony Group LLC grew its holdings in Lockheed Martin by 14.2% in the 2nd quarter. Colony Group LLC now owns 5,559 shares of the aerospace company’s stock valued at $2,390,000 after buying an additional 693 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on LMT shares. StockNews.com started coverage on Lockheed Martin in a report on Thursday. They issued a “buy” rating for the company. Jefferies Financial Group boosted their target price on Lockheed Martin from $500.00 to $525.00 in a report on Monday, December 5th. Susquehanna boosted their target price on Lockheed Martin from $510.00 to $512.00 and gave the stock a “positive” rating in a report on Wednesday, January 25th. Credit Suisse Group upgraded Lockheed Martin from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $427.00 to $510.00 in a report on Monday, February 6th. Finally, Citigroup began coverage on Lockheed Martin in a report on Thursday, December 8th. They set a “buy” rating and a $546.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and an average price target of $490.43.

Lockheed Martin Stock Performance

Shares of LMT opened at $473.24 on Friday. The business’s 50 day moving average is $467.52 and its two-hundred day moving average is $457.60. Lockheed Martin Co. has a 52-week low of $373.67 and a 52-week high of $498.95. The firm has a market cap of $120.82 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.59 and a beta of 0.68. The company has a quick ratio of 1.13, a current ratio of 1.32 and a debt-to-equity ratio of 1.67.

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

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Wednesday, March 1st will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 28th. Lockheed Martin’s payout ratio is 55.27%.

Insider Buying and Selling at Lockheed Martin

In other news, Director John Donovan purchased 556 shares of the stock in a transaction dated Wednesday, January 25th. The stock was acquired at an average cost of $451.20 per share, for a total transaction of $250,867.20. Following the acquisition, the director now owns 2,324 shares of the company’s stock, valued at $1,048,588.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Timothy S. Cahill sold 2,534 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 10,460 shares in the company, valued at approximately $5,014,942.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Donovan purchased 556 shares of the stock in a transaction dated Wednesday, January 25th. The stock was purchased at an average price of $451.20 per share, with a total value of $250,867.20. Following the completion of the acquisition, the director now directly owns 2,324 shares in the company, 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 corporate insiders.

Lockheed Martin 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.