Convergence Investment Partners LLC Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Convergence Investment Partners LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,734 shares of the aerospace company’s stock after selling 1,593 shares during the quarter. Convergence Investment Partners LLC’s holdings in Lockheed Martin were worth $1,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Allied Investment Advisors LLC boosted its stake in Lockheed Martin by 0.5% during the fourth quarter. Allied Investment Advisors LLC now owns 18,715 shares of the aerospace company’s stock worth $9,094,000 after buying an additional 89 shares during the period. Bank of Jackson Hole Trust purchased a new position in Lockheed Martin during the fourth quarter worth $733,000. Callahan Advisors LLC boosted its stake in Lockheed Martin by 46.0% during the fourth quarter. Callahan Advisors LLC now owns 4,615 shares of the aerospace company’s stock worth $2,243,000 after buying an additional 1,454 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Lockheed Martin by 51.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after buying an additional 3,247 shares during the period. Finally, Bfsg LLC boosted its stake in Lockheed Martin by 3.3% during the fourth quarter. Bfsg LLC now owns 4,666 shares of the aerospace company’s stock worth $2,267,000 after buying an additional 149 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMT has been the subject of several recent analyst reports. Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, Barclays decreased their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Stock Performance

LMT stock opened at $428.35 on Wednesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business has a 50-day moving average price of $473.65 and a 200 day moving average price of $531.03. The company has a market capitalization of $100.83 billion, a P/E ratio of 19.24, a PEG ratio of 2.00 and a beta of 0.48. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.14 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.08%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.