Lockheed Martin Corporation $LMT Holdings Lessened by Convergence Financial LLC

Convergence Financial LLC decreased its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 53.0% in the third quarter, HoldingsChannel reports. The firm owned 692 shares of the aerospace company’s stock after selling 781 shares during the quarter. Convergence Financial LLC’s holdings in Lockheed Martin were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of LMT. Burnham & Co LLC purchased a new position in Lockheed Martin during the 2nd quarter worth approximately $25,000. Field & Main Bank acquired a new stake in Lockheed Martin during the 2nd quarter valued at approximately $26,000. Kelleher Financial Advisors purchased a new stake in shares of Lockheed Martin in the 2nd quarter valued at $29,000. Highland Investment Advisors LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter valued at $29,000. Finally, IAG Wealth Partners LLC boosted its holdings in shares of Lockheed Martin by 4,800.0% in the 1st quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent research reports. Weiss Ratings raised shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $615.00 price target on shares of Lockheed Martin in a report on Sunday. Vertical Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price target on the stock in a research report on Wednesday, October 14th. Wells Fargo & Company set a $600.00 price objective on Lockheed Martin in a research note on Monday, July 27th. Finally, Sanford C. Bernstein reduced their price objective on Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $638.05.

Lockheed Martin News Summary

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Lockheed Martin reported quarterly earnings of $7.97 per share, ahead of the $7.52 consensus estimate, while revenue reached $20.71 billion and rose 11.3% year over year. The earnings beat and improved outlook helped drive investor enthusiasm.
• Positive Sentiment: Management reported a record $292 billion backlog, providing substantial multiyear revenue visibility and reinforcing Lockheed Martin’s position as a leading large U.S. defense contractor. Is Lockheed Martin a Buy After Its Latest Earnings Report?
• Positive Sentiment: A 10-year F-35 agreement with the Pentagon is viewed as a major contract win, increasing long-term program visibility. Morgan Stanley responded by raising its price target and upgrading the stock to Overweight from Equal Weight. Lockheed just landed one of the biggest defense deals in years
• Positive Sentiment: Lockheed Martin demonstrated additional missile-defense and precision-strike capabilities by redirecting an in-flight GMLRS rocket during a U.S. Army test, potentially supporting future defense demand. Lockheed Martin Advances Joint Fires Capability
• Neutral Sentiment: Analyst fair-value estimates moved modestly higher, with estimates generally clustered between $600 and $700. The revisions reflect optimism over earnings and F-35 progress but also continued caution regarding cash generation and federal budget uncertainty. Lockheed Martin Stock Sees Modest Fair Value Lift
• Negative Sentiment: After its substantial October rally, some investors may take profits. Analysts and commentators also highlighted slipping margins, a troubled F-35 contract, negative quarterly free cash flow and a potential billion-dollar pension charge.
• Negative Sentiment: Upcoming U.S. budget decisions and the November midterm elections could affect defense priorities and spending, while the stock’s recent gains increase the risk of disappointment when management provides its next update in January.

Lockheed Martin Stock Performance

NYSE LMT opened at $643.62 on Friday. The stock has a market capitalization of $148.68 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.34 and a beta of 0.09. Lockheed Martin Corporation has a twelve month low of $437.25 and a twelve month high of $692.00. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. The stock has a 50-day moving average of $542.85 and a 200 day moving average of $568.44.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.52 by $0.45. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The company had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $20.48 billion. During the same quarter in the prior year, the business posted $6.95 earnings per share. Lockheed Martin’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts anticipate that Lockheed Martin Corporation will post 30.59 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be given a dividend of $3.60 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.2%. Lockheed Martin’s payout ratio is 51.15%.

About Lockheed Martin

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.