State of New Jersey Common Pension Fund D Sells 874 Shares of Lockheed Martin Co. (NYSE:LMT)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,851 shares of the aerospace company’s stock after selling 874 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lockheed Martin were worth $38,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin in the third quarter worth about $26,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth about $35,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the 3rd quarter valued at $40,000. Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the third quarter worth about $42,000. Finally, Vestor Capital LLC purchased a new stake in Lockheed Martin in the 3rd quarter valued at about $46,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Down 2.7 %

LMT opened at $423.15 on Monday. Lockheed Martin Co. has a 52 week low of $418.58 and a 52 week high of $618.95. The business’s fifty day simple moving average is $477.08 and its 200 day simple moving average is $532.83. The firm has a market cap of $99.60 billion, a P/E ratio of 19.01, a PEG ratio of 2.12 and a beta of 0.48. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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 return on equity of 101.47% and a net margin of 7.51%. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LMT shares. UBS Group dropped their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Royal Bank of Canada dropped their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective 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, Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $555.60.

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.