State of Alaska Department of Revenue Increases Stock Position in Lockheed Martin Corporation (NYSE:LMT)

State of Alaska Department of Revenue lifted its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 3.8% during the first quarter, HoldingsChannel.com reports. The fund owned 32,414 shares of the aerospace company’s stock after purchasing an additional 1,195 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lockheed Martin were worth $14,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC purchased a new position in Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin in the 4th quarter valued at $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter valued at $35,000. Redwood Park Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Lockheed Martin in the 4th quarter valued at $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LMT shares. Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a report on Wednesday, April 16th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Finally, Robert W. Baird raised Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Trading Up 2.5%

NYSE:LMT opened at $478.91 on Wednesday. The company has a market capitalization of $112.21 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. Lockheed Martin Corporation has a 52-week low of $418.88 and a 52-week high of $618.95. The stock has a fifty day simple moving average of $471.55 and a 200-day simple moving average of $469.28.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. On average, equities research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin’s payout ratio is 57.02%.

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.