Ameriprise Financial Inc. Sells 123,082 Shares of Lockheed Martin Corporation $LMT

Ameriprise Financial Inc. lowered its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 638,300 shares of the aerospace company’s stock after selling 123,082 shares during the quarter. Ameriprise Financial Inc. owned 0.28% of Lockheed Martin worth $312,957,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Lockheed Martin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after acquiring an additional 214,565 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Lockheed Martin by 3.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,384,753 shares of the aerospace company’s stock valued at $1,190,493,000 after buying an additional 79,491 shares during the last quarter. Invesco Ltd. grew its stake in shares of Lockheed Martin by 4.2% in the third quarter. Invesco Ltd. now owns 2,196,058 shares of the aerospace company’s stock valued at $1,096,294,000 after buying an additional 87,663 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Lockheed Martin by 6.6% in the third quarter. Legal & General Group Plc now owns 1,022,940 shares of the aerospace company’s stock valued at $510,662,000 after buying an additional 63,430 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings 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 worth $400,079,000 after buying an additional 55,607 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LMT. TD Cowen upped their price target on shares of Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Citigroup upped their target price on shares of Lockheed Martin from $592.00 to $673.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. BNP Paribas Exane raised their target price on shares of Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada lifted their price target on Lockheed Martin from $615.00 to $650.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. Six analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $618.95.

Lockheed Martin Price Performance

Shares of LMT opened at $645.16 on Tuesday. The company’s 50-day moving average is $619.20 and its 200-day moving average is $527.13. 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 has a market capitalization of $148.44 billion, a PE ratio of 30.02, a PEG ratio of 1.16 and a beta of 0.22. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $692.00.

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

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be paid a dividend of $3.45 per share. The ex-dividend date is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.1%. Lockheed Martin’s dividend payout ratio (DPR) is 64.22%.

Lockheed Martin 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.