New Mexico Educational Retirement Board Lowers Position in Lockheed Martin Corporation (NYSE:LMT)

New Mexico Educational Retirement Board trimmed its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,897 shares of the aerospace company’s stock after selling 200 shares during the period. New Mexico Educational Retirement Board’s holdings in Lockheed Martin were worth $4,421,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LMT. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin in the fourth quarter worth $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter worth $35,000. Redwood Park Advisors LLC purchased a new position in Lockheed Martin in the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin in the fourth quarter worth about $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 1.3%

Shares of LMT opened at $463.16 on Wednesday. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $470.20 and a 200-day simple moving average of $465.31. Lockheed Martin Corporation has a 1-year low of $418.88 and a 1-year high of $618.95. The stock has a market cap of $108.52 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.64 and a beta of 0.28.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. Equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a yield of 2.85%. Lockheed Martin’s dividend payout ratio (DPR) is 57.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LMT shares. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Royal Bank Of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a report on Wednesday, April 16th. Finally, Jefferies Financial Group cut their price target on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Monday, April 28th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

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.