Lockheed Martin Co. (NYSE:LMT) Shares Sold by Creative Planning

Creative Planning cut its stake in Lockheed Martin Co. (NYSE:LMT) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,427 shares of the aerospace company’s stock after selling 5,116 shares during the quarter. Creative Planning’s holdings in Lockheed Martin were worth $15,677,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LMT. Eagle Capital Management LLC increased its stake in shares of Lockheed Martin by 2.3% in the 2nd quarter. Eagle Capital Management LLC now owns 10,687 shares of the aerospace company’s stock worth $4,043,000 after acquiring an additional 240 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Lockheed Martin by 12.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 46,637 shares of the aerospace company’s stock worth $17,645,000 after purchasing an additional 5,311 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Lockheed Martin by 8.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 19,841 shares of the aerospace company’s stock worth $7,507,000 after purchasing an additional 1,537 shares during the period. AGF Investments Inc. grew its holdings in shares of Lockheed Martin by 9.1% during the 2nd quarter. AGF Investments Inc. now owns 77,743 shares of the aerospace company’s stock worth $29,414,000 after purchasing an additional 6,465 shares during the period. Finally, Mission Wealth Management LP grew its holdings in shares of Lockheed Martin by 50.4% during the 2nd quarter. Mission Wealth Management LP now owns 1,430 shares of the aerospace company’s stock worth $541,000 after purchasing an additional 479 shares during the period. 73.79% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on LMT shares. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $440.00 to $375.00 in a research note on Monday, November 1st. UBS Group decreased their price objective on Lockheed Martin from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Wednesday, October 27th. Cowen cut Lockheed Martin from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $400.00 to $375.00 in a research note on Wednesday, September 29th. Robert W. Baird decreased their price objective on Lockheed Martin from $394.00 to $376.00 and set a “neutral” rating for the company in a research note on Wednesday, October 27th. Finally, Morgan Stanley cut their target price on Lockheed Martin from $458.00 to $430.00 and set an “overweight” rating on the stock in a research report on Thursday, November 4th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and an average target price of $385.28.

Shares of NYSE:LMT opened at $372.62 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 1.21. Lockheed Martin Co. has a 52-week low of $319.81 and a 52-week high of $396.99. The stock’s fifty day simple moving average is $346.43 and its 200-day simple moving average is $354.83. The company has a market capitalization of $102.76 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.89 and a beta of 0.94.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Monday, October 25th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.24. Lockheed Martin had a return on equity of 104.60% and a net margin of 9.13%. The business had revenue of $16.03 billion for the quarter, compared to the consensus estimate of $17.12 billion. During the same period in the prior year, the business earned $6.25 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 27.51 earnings per share for the current year.

Lockheed Martin declared that its board has approved a stock buyback plan on Thursday, September 23rd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

About Lockheed Martin

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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