Thrivent Financial for Lutherans Trims Stake in Lockheed Martin Corporation $LMT

Thrivent Financial for Lutherans decreased its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 64.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,988 shares of the aerospace company’s stock after selling 46,163 shares during the period. Thrivent Financial for Lutherans’ holdings in Lockheed Martin were worth $11,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in 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 purchasing an additional 214,565 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Lockheed Martin by 0.4% during the second 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 in the last quarter. Royal Bank of Canada raised its position in shares of Lockheed Martin by 1.4% in the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock valued at $1,021,846,000 after buying an additional 31,443 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Lockheed Martin by 0.6% during the second quarter. Legal & General Group Plc now owns 959,510 shares of the aerospace company’s stock valued at $444,387,000 after buying an additional 6,073 shares during the period. Finally, AQR Capital Management LLC boosted 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 worth $400,079,000 after acquiring an additional 55,607 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO John Frank A. St sold 7,792 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value of $3,826,183.68. Following the completion of the sale, the chief operating officer directly owned 1 shares in the company, valued at approximately $491.04. This represents a 99.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $474.93 on Thursday. The company has a market cap of $109.90 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.24. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $516.00. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. The stock’s 50-day moving average is $473.96 and its 200-day moving average is $465.69.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.33 by $0.62. The firm had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Equities analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. Lockheed Martin’s dividend payout ratio (DPR) is presently 77.05%.

Analyst Ratings Changes

LMT has been the subject of several analyst reports. BNP Paribas Exane assumed coverage on Lockheed Martin in a report on Tuesday, November 18th. They issued an “outperform” rating and a $550.00 price target for the company. The Goldman Sachs Group upped their target price on Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Susquehanna raised their price target on Lockheed Martin from $490.00 to $590.00 and gave the stock a “positive” rating in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Lockheed Martin from $517.00 to $492.00 and set a “hold” rating for the company in a report on Wednesday, December 10th. Finally, Royal Bank Of Canada increased their price objective on shares of Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $503.89.

Lockheed Martin 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.