Teacher Retirement System of Texas Has $77.08 Million Position in Lockheed Martin Co. (NYSE:LMT)

Teacher Retirement System of Texas cut its stake in Lockheed Martin Co. (NYSE:LMT) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,613 shares of the aerospace company’s stock after selling 11,802 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.07% of Lockheed Martin worth $77,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of LMT. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth about $26,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at approximately $35,000. Legacy Investment Solutions LLC bought a new position in Lockheed Martin during the third quarter valued at approximately $42,000. Sugar Maple Asset Management LLC bought a new stake in Lockheed Martin in the fourth quarter worth approximately $47,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth $52,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $470.44 on Thursday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a market cap of $110.73 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The firm has a fifty day moving average price of $461.54 and a two-hundred day moving average price of $516.47. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LMT shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Royal Bank of Canada decreased their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $554.20.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by corporate insiders.

Lockheed Martin Company Profile

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.