Confluence Wealth Services Inc. Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Confluence Wealth Services Inc. lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 174.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,176 shares of the aerospace company’s stock after purchasing an additional 2,017 shares during the period. Confluence Wealth Services Inc.’s holdings in Lockheed Martin were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin in the third quarter valued at $26,000. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at about $32,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $40,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin during the third quarter worth about $42,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, UBS Group dropped their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Down 0.3 %

LMT opened at $454.00 on Wednesday. The stock has a market capitalization of $106.87 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business has a 50-day moving average of $489.62 and a two-hundred day moving average of $537.03.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate 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, research analysts expect that Lockheed Martin Co. will post 27.29 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.