Convergence Investment Partners LLC Trims Holdings in Lockheed Martin Co. (NYSE:LMT)

Convergence Investment Partners LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,459 shares of the aerospace company’s stock after selling 149 shares during the quarter. Convergence Investment Partners LLC’s holdings in Lockheed Martin were worth $1,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Connecticut Wealth Management LLC purchased a new stake in shares of Lockheed Martin in the 3rd quarter worth about $261,000. KG&L Capital Management LLC grew its position in Lockheed Martin by 53.1% during the 3rd quarter. KG&L Capital Management LLC now owns 718 shares of the aerospace company’s stock valued at $294,000 after purchasing an additional 249 shares during the last quarter. Oak Family Advisors LLC grew its position in Lockheed Martin by 20.4% during the 3rd quarter. Oak Family Advisors LLC now owns 1,657 shares of the aerospace company’s stock valued at $678,000 after purchasing an additional 281 shares during the last quarter. Plimoth Trust Co. LLC grew its position in Lockheed Martin by 3.6% during the 3rd quarter. Plimoth Trust Co. LLC now owns 4,636 shares of the aerospace company’s stock valued at $1,896,000 after purchasing an additional 161 shares during the last quarter. Finally, Lake Street Financial LLC grew its position in Lockheed Martin by 4.6% during the 3rd quarter. Lake Street Financial LLC now owns 2,801 shares of the aerospace company’s stock valued at $1,151,000 after purchasing an additional 123 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lockheed Martin

In related news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LMT has been the topic of several recent analyst reports. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday. The Goldman Sachs Group cut their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday. Morgan Stanley lowered their target price on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their target price for the company from $475.00 to $518.00 in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $485.40.

Lockheed Martin Stock Performance

NYSE LMT traded down $3.49 on Friday, reaching $461.29. 857,964 shares of the stock were exchanged, compared to its average volume of 1,102,151. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The firm has a market capitalization of $110.68 billion, a PE ratio of 16.88, a PEG ratio of 4.22 and a beta of 0.48. The company’s 50-day simple moving average is $443.74 and its two-hundred day simple moving average is $444.53. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same period last year, the firm posted $6.43 EPS. The company’s revenue was up 13.7% on a year-over-year basis. Analysts expect that Lockheed Martin Co. will post 26.16 EPS for the current fiscal year.

Lockheed Martin Company 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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.