Confluence Wealth Services Inc. Boosts Stock Position in Lockheed Martin Corporation (NYSE:LMT)

Confluence Wealth Services Inc. lifted its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 34.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,266 shares of the aerospace company's stock after purchasing an additional 1,090 shares during the period. Confluence Wealth Services Inc.'s holdings in Lockheed Martin were worth $1,977,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LMT. GAMMA Investing LLC increased its position in Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after purchasing an additional 1,986,600 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock valued at $3,630,492,000 after buying an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at about $451,985,000. Finally, Capital Research Global Investors purchased a new position in shares of Lockheed Martin during the fourth quarter valued at about $229,987,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LMT. Wells Fargo & Company reduced their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. UBS Group raised their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada cut Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Finally, Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a research note on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $458.59 on Friday. Lockheed Martin Corporation has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The company has a 50 day simple moving average of $470.80 and a two-hundred day simple moving average of $466.78. The company has a market capitalization of $107.45 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.60 and a beta of 0.29. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. Analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is 57.02%.

About Lockheed Martin

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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