Convergence Investment Partners LLC Raises Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

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Convergence Investment Partners LLC lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 10.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,128 shares of the aerospace company’s stock after acquiring an additional 889 shares during the quarter. Lockheed Martin accounts for about 1.1% of Convergence Investment Partners LLC’s holdings, making the stock its 19th largest position. Convergence Investment Partners LLC’s holdings in Lockheed Martin were worth $3,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Benjamin Edwards Inc. lifted its position in shares of Lockheed Martin by 89.7% during the first quarter. Benjamin Edwards Inc. now owns 74 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Bay Harbor Wealth Management LLC bought a new position in Lockheed Martin in the first quarter valued at about $25,000. Key Financial Inc bought a new position in Lockheed Martin in the first quarter valued at about $26,000. MBE Wealth Management LLC bought a new position in Lockheed Martin in the first quarter valued at about $29,000. Finally, Ruggie Capital Group bought a new position in Lockheed Martin in the first quarter valued at about $34,000. 81.87% of the stock is owned by institutional investors.

LMT traded down $2.75 on Friday, reaching $378.97. The stock had a trading volume of 1,101,905 shares, compared to its average volume of 1,406,967. Lockheed Martin Co. has a fifty-two week low of $266.11 and a fifty-two week high of $442.53. The firm has a 50-day moving average of $369.01 and a 200-day moving average of $382.20. The company has a current ratio of 1.31, a quick ratio of 1.08 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $106.27 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 21st. The aerospace company reported $5.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.07. The business had revenue of $16.22 billion during the quarter, compared to analysts’ expectations of $15.19 billion. Lockheed Martin had a return on equity of 182.05% and a net margin of 10.25%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.00 EPS. Sell-side analysts anticipate that Lockheed Martin Co. will post 24.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be given a dividend of $2.40 per share. The ex-dividend date is Monday, August 31st. This represents a $9.60 annualized dividend and a dividend yield of 2.53%. Lockheed Martin’s payout ratio is 43.74%.

A number of equities analysts have issued reports on the company. UBS Group reduced their target price on Lockheed Martin from $482.00 to $475.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. Cowen assumed coverage on Lockheed Martin in a report on Tuesday, April 21st. They set a “buy” rating and a $410.00 target price on the stock. Stifel Nicolaus reduced their target price on Lockheed Martin from $480.00 to $440.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Credit Suisse Group reduced their target price on Lockheed Martin from $433.00 to $400.00 and set a “hold” rating on the stock in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on Lockheed Martin from $350.00 to $395.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. Lockheed Martin currently has an average rating of “Buy” and an average target price of $442.67.

Lockheed Martin Company 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. It operates through four 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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