Convergence Financial LLC Raises Stock Position in Lockheed Martin Co. (NYSE:LMT)

Convergence Financial LLC raised its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 21.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,352 shares of the aerospace company’s stock after buying an additional 241 shares during the period. Convergence Financial LLC’s holdings in Lockheed Martin were worth $657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LMT. Van ECK Associates Corp lifted its stake in shares of Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after buying an additional 507,312 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after acquiring an additional 249,591 shares during the period. Wellington Management Group LLP lifted its position in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. FMR LLC boosted its stake in shares of Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth about $77,376,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Trading Down 1.5 %

LMT stock opened at $441.56 on Thursday. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The stock has a market capitalization of $103.94 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm’s fifty day simple moving average is $467.23 and its two-hundred day simple moving average is $526.63.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. Susquehanna reduced their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on shares of Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research note on Wednesday. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $553.67.

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.