State of New Jersey Common Pension Fund D Boosts Stake in Lockheed Martin Corporation $LMT

State of New Jersey Common Pension Fund D raised its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,131 shares of the aerospace company’s stock after buying an additional 1,891 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lockheed Martin were worth $36,508,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tableaux LLC grew its holdings in shares of Lockheed Martin by 34,231.4% in the second quarter. Tableaux LLC now owns 623,115 shares of the aerospace company’s stock valued at $288,589,000 after purchasing an additional 621,300 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Lockheed Martin by 169.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,272 shares of the aerospace company’s stock valued at $265,030,000 after acquiring an additional 359,748 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lockheed Martin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after acquiring an additional 214,565 shares during the last quarter. Holocene Advisors LP purchased a new position in Lockheed Martin in the second quarter worth about $92,628,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Lockheed Martin during the second quarter worth approximately $89,850,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 2.3%

NYSE:LMT opened at $652.41 on Monday. The company has a market cap of $150.11 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 1.18 and a beta of 0.23. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $656.34. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. The stock has a fifty day simple moving average of $545.43 and a 200-day simple moving average of $494.74.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the previous year, the company posted $7.67 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be given a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.1%. Lockheed Martin’s dividend payout ratio (DPR) is 64.22%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Robert W. Baird raised their price target on Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. UBS Group lifted their price objective on shares of Lockheed Martin from $580.00 to $663.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Morgan Stanley set a $675.00 target price on shares of Lockheed Martin in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $515.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $612.50.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.