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

Convergence Investment Partners LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 29.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Stratos Wealth Advisors LLC grew its position in Lockheed Martin by 16.9% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,148 shares of the aerospace company’s stock valued at $672,000 after purchasing an additional 166 shares during the last quarter. Resonant Capital Advisors LLC purchased a new stake in Lockheed Martin during the 3rd quarter valued at about $247,000. Vest Financial LLC grew its position in Lockheed Martin by 146.3% during the 3rd quarter. Vest Financial LLC now owns 1,956 shares of the aerospace company’s stock valued at $1,143,000 after purchasing an additional 1,162 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Lockheed Martin by 22.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,722 shares of the aerospace company’s stock valued at $2,176,000 after purchasing an additional 687 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its position in Lockheed Martin by 18.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,004 shares of the aerospace company’s stock valued at $587,000 after purchasing an additional 157 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 1.2 %

Shares of LMT 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. Lockheed Martin Co. has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a 50 day simple moving average of $473.65 and a two-hundred day simple moving average of $531.03. The firm has a market cap of $100.83 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 2.00 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts expect that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LMT. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

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.