Public Employees Retirement Association of Colorado Has $13.88 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,717 shares of the aerospace company’s stock after selling 1,417 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Lockheed Martin were worth $13,881,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. HTLF Bank increased its stake in shares of Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC increased its stake in shares of Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after purchasing an additional 20 shares during the period. Sachetta LLC grew its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Goldstein Advisors LLC grew its position in Lockheed Martin by 1.2% during the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after buying an additional 21 shares in the last quarter. Finally, Hudock Inc. grew its position in Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on LMT. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and lifted their target price for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley lifted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Stock Up 1.2 %

Shares of LMT opened at $571.92 on Friday. The company has a market capitalization of $137.23 billion, a P/E ratio of 20.93, a PEG ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $578.73. The business’s 50 day simple moving average is $545.61 and its 200-day simple moving average is $488.74.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the previous year, the company posted $6.73 EPS. Lockheed Martin’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.