Thrivent Financial for Lutherans Sells 194 Shares of Lockheed Martin Co. (NYSE:LMT)

Thrivent Financial for Lutherans lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,187 shares of the aerospace company’s stock after selling 194 shares during the period. Thrivent Financial for Lutherans’ holdings in Lockheed Martin were worth $10,453,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. PDS Planning Inc increased its position in shares of Lockheed Martin by 2.7% during the fourth quarter. PDS Planning Inc now owns 1,497 shares of the aerospace company’s stock worth $728,000 after buying an additional 40 shares during the period. Kensington Investment Counsel LLC increased its position in shares of Lockheed Martin by 5.0% during the fourth quarter. Kensington Investment Counsel LLC now owns 9,682 shares of the aerospace company’s stock worth $4,705,000 after buying an additional 462 shares during the period. Mystic Asset Management Inc. increased its position in shares of Lockheed Martin by 5.9% during the fourth quarter. Mystic Asset Management Inc. now owns 4,718 shares of the aerospace company’s stock worth $2,293,000 after buying an additional 262 shares during the period. Flagship Wealth Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $257,000. Finally, Cassady Schiller Wealth Management LLC increased its position in shares of Lockheed Martin by 28.5% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 194 shares of the aerospace company’s stock worth $94,000 after buying an additional 43 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on LMT. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. UBS Group reduced their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin Stock Down 5.7 %

Shares of NYSE LMT opened at $440.26 on Friday. 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 50-day moving average price of $460.94 and a 200-day moving average price of $514.87. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The stock has a market capitalization of $103.63 billion, a P/E ratio of 19.78, a P/E/G ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 3.00%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

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.