Teacher Retirement System of Texas trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,478 shares of the aerospace company’s stock after selling 4,594 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of Lockheed Martin worth $42,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Northern Trust Corp grew its holdings in Lockheed Martin by 0.7% in the 1st quarter. Northern Trust Corp now owns 3,308,122 shares of the aerospace company’s stock valued at $1,117,914,000 after buying an additional 24,273 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Lockheed Martin by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,552,936 shares of the aerospace company’s stock worth $754,213,000 after purchasing an additional 292,851 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Lockheed Martin by 9.2% during the 1st quarter. Royal Bank of Canada now owns 2,152,194 shares of the aerospace company’s stock worth $727,290,000 after purchasing an additional 180,584 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Lockheed Martin by 17.0% during the 1st quarter. OppenheimerFunds Inc. now owns 1,874,975 shares of the aerospace company’s stock worth $633,610,000 after purchasing an additional 271,768 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Lockheed Martin by 17.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,556,620 shares of the aerospace company’s stock worth $526,029,000 after purchasing an additional 229,017 shares in the last quarter. 78.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LMT stock opened at $313.12 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.19 and a debt-to-equity ratio of 28.14. Lockheed Martin Co. has a twelve month low of $291.52 and a twelve month high of $363.00. The firm has a market cap of $89.91 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 2.50 and a beta of 0.71.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.39. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The business had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $12.72 billion. During the same period in the prior year, the company earned $3.23 EPS. Lockheed Martin’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts expect that Lockheed Martin Co. will post 17.22 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $8.00 annualized dividend and a dividend yield of 2.55%. Lockheed Martin’s dividend payout ratio is currently 60.02%.

LMT has been the topic of several analyst reports. Credit Suisse Group increased their target price on Lockheed Martin from $355.00 to $340.00 and gave the stock a “neutral” rating in a report on Wednesday, July 25th. TheStreet raised Lockheed Martin from a “c” rating to a “b-” rating in a report on Tuesday, April 24th. Berenberg Bank raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $343.00 target price on the stock in a report on Wednesday, July 11th. Finally, Bank of America increased their target price on Lockheed Martin from $400.00 to $412.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Lockheed Martin currently has a consensus rating of “Buy” and a consensus price target of $370.38.

In other Lockheed Martin news, Chairman Marillyn A. Hewson sold 25,000 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $323.68, for a total value of $8,092,000.00. Following the completion of the transaction, the chairman now directly owns 90,625 shares in the company, valued at $29,333,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maryanne Lavan sold 7,250 shares of the stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $323.64, for a total value of $2,346,390.00. Following the completion of the transaction, the senior vice president now owns 9,869 shares of the company’s stock, valued at $3,194,003.16. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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