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

Convergence Financial LLC lifted its position in Lockheed Martin Co. (NYSE:LMT) by 21.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,352 shares of the aerospace company’s stock after purchasing an additional 241 shares during the period. Convergence Financial LLC’s holdings in Lockheed Martin were worth $657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of Lockheed Martin by 1,239.6% in the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after buying an additional 507,312 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Lockheed Martin by 124.0% in 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 in the last quarter. Wellington Management Group LLP lifted its stake in 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 worth $1,797,437,000 after acquiring an additional 240,306 shares during the period. FMR LLC grew its holdings in Lockheed Martin by 6.6% during the 3rd 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 in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Lockheed Martin during the 4th quarter valued at about $77,376,000. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LMT. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Wells Fargo & Company dropped their target price on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Barclays cut their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin Trading Down 1.5 %

NYSE:LMT opened at $441.56 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a fifty day simple moving average of $467.23 and a 200-day simple moving average of $526.63. Lockheed Martin Co. has a 12 month low of $419.70 and a 12 month high of $618.95. The company has a market capitalization of $103.94 billion, a P/E ratio of 19.84, a PEG ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities research 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given 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 dividend payout ratio is presently 59.30%.

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.