State of Michigan Retirement System Sells 1,100 Shares of Lockheed Martin Corporation $LMT

State of Michigan Retirement System trimmed its holdings in Lockheed Martin Corporation (NYSE:LMT) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,418 shares of the aerospace company’s stock after selling 1,100 shares during the period. State of Michigan Retirement System’s holdings in Lockheed Martin were worth $29,662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LMT. Vanguard Group Inc. raised its holdings 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 valued at $10,048,993,000 after buying an additional 214,565 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lockheed Martin by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock valued at $2,256,147,000 after acquiring an additional 19,459 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Lockheed Martin by 0.6% in the 2nd 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 in the last quarter. AQR Capital Management LLC raised its stake in shares of Lockheed Martin by 6.9% in the 2nd 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 in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Lockheed Martin by 16.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 761,382 shares of the aerospace company’s stock worth $347,381,000 after purchasing an additional 108,553 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 2.3%

Lockheed Martin stock opened at $623.25 on Friday. Lockheed Martin Corporation has a 12 month low of $410.11 and a 12 month high of $646.59. The stock has a market cap of $143.40 billion, a price-to-earnings ratio of 29.00, a price-to-earnings-growth ratio of 1.39 and a beta of 0.23. The business has a 50 day moving average price of $526.24 and a two-hundred day moving average price of $486.09. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05.

Lockheed Martin (NYSE:LMT) last issued its 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). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The firm had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the previous year, the company posted $7.67 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. The Goldman Sachs Group increased their price target on Lockheed Martin from $464.00 to $517.00 and gave the company a “sell” rating in a report on Monday. Jefferies Financial Group raised their target price on shares of Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research note on Sunday, February 1st. TD Cowen boosted their target price 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. Wall Street Zen upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Finally, Robert W. Baird lifted their price objective on Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average target price of $612.50.

About Lockheed Martin

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.