Lockheed Martin Corporation $LMT Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of Lockheed Martin Corporation (NYSE:LMT) by 26.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,328 shares of the aerospace company’s stock after selling 6,660 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lockheed Martin were worth $9,149,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Lockheed Martin by 1.0% during the second quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock worth $10,048,993,000 after purchasing an additional 214,565 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Lockheed Martin by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock worth $2,256,147,000 after buying an additional 19,459 shares during the period. Legal & General Group Plc boosted its holdings in Lockheed Martin by 0.6% in the second quarter. Legal & General Group Plc now owns 959,510 shares of the aerospace company’s stock valued at $444,387,000 after acquiring an additional 6,073 shares during the last quarter. AQR Capital Management LLC grew its position in Lockheed Martin by 6.9% during the second quarter. AQR Capital Management LLC now owns 863,839 shares of the aerospace company’s stock valued at $400,079,000 after acquiring an additional 55,607 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Lockheed Martin by 16.6% during the second quarter. Ameriprise Financial Inc. now owns 761,382 shares of the aerospace company’s stock worth $347,381,000 after acquiring an additional 108,553 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $607.54 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The firm’s fifty day moving average price is $522.92 and its 200 day moving average price is $484.97. The company has a market capitalization of $139.78 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 1.37 and a beta of 0.23. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $646.59.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the business earned $7.67 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Analyst Ratings Changes

LMT has been the topic of several research analyst reports. Royal Bank Of Canada lifted their price objective on Lockheed Martin from $615.00 to $650.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $586.00 price target on shares of Lockheed Martin in a research report on Monday, January 12th. Robert W. Baird increased their price objective on shares of Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. DZ Bank downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 target price on the stock. in a research note on Tuesday. Finally, Morgan Stanley set a $675.00 price target on shares of Lockheed Martin in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $608.72.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.