Confluence Investment Management LLC Sells 6,431 Shares of Lockheed Martin Co. (NYSE:LMT)

by · The Markets Daily

Confluence Investment Management LLC trimmed its position in shares of Lockheed Martin Co. (NYSE:LMT – Free Report) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,662 shares of the aerospace company’s stock after selling 6,431 shares during the period. Lockheed Martin makes up about 2.4% of Confluence Investment Management LLC’s holdings, making the stock its 2nd biggest holding. Confluence Investment Management LLC’s holdings in Lockheed Martin were worth $182,770,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after buying an additional 2,019 shares in the last quarter. Buck Wealth Strategies LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at $6,611,000. Old West Investment Management LLC lifted its holdings in shares of Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares in the last quarter. McAdam LLC lifted its holdings in shares of Lockheed Martin by 101.7% during the 3rd quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock valued at $689,000 after acquiring an additional 594 shares in the last quarter. Finally, Financial Enhancement Group LLC boosted its position in Lockheed Martin by 2,268.3% during the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock worth $6,105,000 after purchasing an additional 10,003 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company boosted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Robert W. Baird boosted their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $611.00.

View Our Latest Stock Report on LMT

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $551.98 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm’s 50-day simple moving average is $578.42 and its 200-day simple moving average is $520.28. The firm has a market cap of $130.84 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 4.44 and a beta of 0.49.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 earnings per share. Equities analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

About Lockheed Martin

(Free Report)

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.

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