Confluence Investment Management LLC Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Confluence Investment Management LLC lowered its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 331,035 shares of the aerospace company’s stock after selling 4,818 shares during the quarter. Lockheed Martin comprises about 2.2% of Confluence Investment Management LLC’s investment portfolio, making the stock its 8th biggest position. Confluence Investment Management LLC’s holdings in Lockheed Martin were worth $152,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Argent Trust Co grew its stake in Lockheed Martin by 1.6% in the 1st quarter. Argent Trust Co now owns 33,538 shares of the aerospace company’s stock valued at $15,854,000 after buying an additional 535 shares during the last quarter. Merit Financial Group LLC grew its stake in Lockheed Martin by 8.8% in the 1st quarter. Merit Financial Group LLC now owns 7,358 shares of the aerospace company’s stock valued at $3,478,000 after buying an additional 596 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new position in Lockheed Martin in the 1st quarter valued at $6,709,000. Quadrant Capital Group LLC grew its stake in Lockheed Martin by 14.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,858 shares of the aerospace company’s stock valued at $904,000 after buying an additional 230 shares during the last quarter. Finally, Rebalance LLC acquired a new position in Lockheed Martin in the 4th quarter valued at $275,000. Institutional investors own 74.26% of the company’s stock.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $532.00 target price on shares of Lockheed Martin in a research note on Wednesday, July 19th. Wells Fargo & Company raised their price target on shares of Lockheed Martin from $433.00 to $440.00 in a research report on Wednesday, July 19th. Citigroup decreased their price target on shares of Lockheed Martin from $579.00 to $555.00 in a research report on Wednesday, July 19th. Susquehanna decreased their price target on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, July 19th. Finally, Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and an average target price of $499.43.

Lockheed Martin Trading Up 0.8 %

Shares of LMT stock opened at $420.99 on Thursday. Lockheed Martin Co. has a 12-month low of $381.55 and a 12-month high of $508.10. The company has a market capitalization of $106.02 billion, a P/E ratio of 15.39, a P/E/G ratio of 2.42 and a beta of 0.65. The firm has a 50-day moving average price of $450.01 and a 200 day moving average price of $461.07. The company has a quick ratio of 1.16, a current ratio of 1.36 and a debt-to-equity ratio of 1.87.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $6.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.28. Lockheed Martin had a net margin of 10.48% and a return on equity of 71.67%. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $15.92 billion. During the same period last year, the firm posted $6.32 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Research analysts forecast that Lockheed Martin Co. will post 27.07 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Thursday, August 31st. Lockheed Martin’s dividend payout ratio is presently 43.88%.

Insiders Place Their Bets

In other Lockheed Martin news, Director John Donovan purchased 548 shares of the stock in a transaction dated Wednesday, July 19th. The stock was bought at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the transaction, the director now directly owns 3,378 shares in the company, valued at $1,543,982.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Lockheed Martin 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, Rotary and Mission Systems, and Space.