Public Employees Retirement Association of Colorado Has $84.14 Million Position in Lockheed Martin Co. (NYSE:LMT)

Public Employees Retirement Association of Colorado cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 18.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 222,382 shares of the aerospace company’s stock after selling 49,657 shares during the period. Public Employees Retirement Association of Colorado owned about 0.08% of Lockheed Martin worth $84,138,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ironwood Wealth Management LLC. raised its stake in shares of Lockheed Martin by 9.2% during the 1st quarter. Ironwood Wealth Management LLC. now owns 1,207 shares of the aerospace company’s stock worth $446,000 after purchasing an additional 102 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Lockheed Martin by 9.4% in the first quarter. Acadian Asset Management LLC now owns 7,168 shares of the aerospace company’s stock worth $2,649,000 after buying an additional 615 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in Lockheed Martin during the first quarter valued at approximately $160,000. Quilter Plc lifted its stake in Lockheed Martin by 982.5% in the first quarter. Quilter Plc now owns 9,039 shares of the aerospace company’s stock valued at $3,340,000 after acquiring an additional 8,204 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Lockheed Martin by 20.2% in the first quarter. JPMorgan Chase & Co. now owns 395,330 shares of the aerospace company’s stock valued at $146,075,000 after acquiring an additional 66,457 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

LMT stock traded up $0.71 on Thursday, reaching $362.47. 20,190 shares of the company were exchanged, compared to its average volume of 1,450,672. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.36 and a quick ratio of 1.15. Lockheed Martin Co. has a 12 month low of $319.81 and a 12 month high of $396.99. The stock’s fifty day moving average price is $353.25 and its 200 day moving average price is $371.76. The firm has a market capitalization of $100.37 billion, a PE ratio of 14.21, a PEG ratio of 3.23 and a beta of 0.98.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Sunday, July 25th. The aerospace company reported $6.52 EPS for the quarter, missing the Zacks’ consensus estimate of $6.53 by ($0.01). Lockheed Martin had a net margin of 10.69% and a return on equity of 123.35%. The company had revenue of $17.03 billion for the quarter, compared to analyst estimates of $16.93 billion. During the same period in the prior year, the company posted $5.79 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts expect that Lockheed Martin Co. will post 23.45 EPS for the current fiscal year.

Lockheed Martin declared that its board has approved a share repurchase program on Thursday, September 23rd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 27th. Shareholders of record on Wednesday, December 1st will be paid a dividend of $2.80 per share. The ex-dividend date of this dividend is Tuesday, November 30th. This represents a $11.20 dividend on an annualized basis and a yield of 3.09%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.60. Lockheed Martin’s payout ratio is currently 41.87%.

LMT has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Lockheed Martin from $384.00 to $385.00 and gave the company an “equal weight” rating in a report on Tuesday, July 27th. The Goldman Sachs Group cut Lockheed Martin from a “buy” rating to a “neutral” rating and set a $402.00 price target for the company. in a research report on Thursday, September 23rd. Cowen lowered Lockheed Martin from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $400.00 to $375.00 in a report on Wednesday, September 29th. Credit Suisse Group restated a “neutral” rating and issued a $370.20 target price (down from $394.00) on shares of Lockheed Martin in a report on Tuesday, July 27th. Finally, Jefferies Financial Group reiterated a “neutral” rating on shares of Lockheed Martin in a report on Friday, September 10th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $396.03.

About Lockheed Martin

Lockheed Martin Corp. operates as 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.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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