Confluence Investment Management LLC Has $138.99 Million Stock Position in Lockheed Martin Corporation $LMT

Key Points

• Confluence Investment Management LLC has reduced its stake in Lockheed Martin by 0.8%, now holding 300,098 shares worth approximately $138.99 million, making it the firm's 12th biggest holding.
• Lockheed Martin reported $7.29 earnings per share for the last quarter, exceeding analyst expectations of $6.57, while revenue came in at $18.16 billion, slightly below the $18.59 billion forecast.
• The company declared a quarterly dividend of $3.30 per share, with a dividend yield of 2.8%, to be paid on September 26th to investors of record.

Confluence Investment Management LLC trimmed its holdings in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,098 shares of the aerospace company's stock after selling 2,351 shares during the period. Lockheed Martin makes up about 2.0% of Confluence Investment Management LLC's holdings, making the stock its 12th biggest position. Confluence Investment Management LLC owned approximately 0.13% of Lockheed Martin worth $138,988,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LMT. TruNorth Capital Management LLC acquired a new position in Lockheed Martin in the 1st quarter worth about $31,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. EQ Wealth Advisors LLC bought a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $43,000. Ritter Daniher Financial Advisory LLC DE bought a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $45,000. Finally, McIlrath & Eck LLC lifted its holdings in shares of Lockheed Martin by 161.0% during the first quarter. McIlrath & Eck LLC now owns 107 shares of the aerospace company's stock valued at $48,000 after acquiring an additional 66 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.4%

Shares of LMT traded up $2.03 during midday trading on Monday, hitting $473.34. The stock had a trading volume of 1,148,188 shares, compared to its average volume of 1,301,095. The company has a 50 day simple moving average of $446.48 and a two-hundred day simple moving average of $458.57. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The firm has a market cap of $110.51 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.66 and a beta of 0.26. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The firm had revenue of $18.16 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the business posted $7.11 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.8%. Lockheed Martin's dividend payout ratio (DPR) is currently 74.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Susquehanna dropped their price target on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Wall Street Zen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Truist Financial lowered Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the stock from $554.00 to $440.00 in a research report on Wednesday, July 23rd. Finally, Robert W. Baird reduced their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Lockheed Martin has an average rating of "Hold" and an average price target of $494.00.

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.