AQR Capital Management LLC Reduces Position in Lockheed Martin Co. (NYSE:LMT)

AQR Capital Management LLC lessened its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 8.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 432,114 shares of the aerospace company’s stock after selling 40,493 shares during the quarter. AQR Capital Management LLC’s holdings in Lockheed Martin were worth $201,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aveo Capital Partners LLC raised its stake in Lockheed Martin by 4.1% in the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock worth $300,000 after buying an additional 26 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in Lockheed Martin by 111.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock valued at $1,026,000 after purchasing an additional 1,209 shares during the last quarter. TD Asset Management Inc boosted its holdings in Lockheed Martin by 5.7% in the fourth quarter. TD Asset Management Inc now owns 95,285 shares of the aerospace company’s stock valued at $43,187,000 after purchasing an additional 5,156 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new stake in Lockheed Martin in the fourth quarter valued at $5,314,000. Finally, Legacy Advisors LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth about $262,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Barclays increased their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Price Performance

LMT opened at $577.95 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $583.75. The company has a 50 day moving average of $550.14 and a two-hundred day moving average of $491.21. The company has a market cap of $137.76 billion, a P/E ratio of 21.15, a P/E/G ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.73 earnings per share. On average, analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% 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.