Lockheed Martin Co. (NYSE:LMT) Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. lowered its stake in Lockheed Martin Co. (NYSE:LMT) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,731 shares of the aerospace company’s stock after selling 229 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Lockheed Martin were worth $2,299,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LMT. Millstone Evans Group LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter worth $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at $35,000. Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last three months. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LMT. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Citigroup decreased their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Finally, Jefferies Financial Group decreased their target price on Lockheed Martin from $510.00 to $500.00 and set a “hold” rating for the company in a report on Monday, April 28th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Stock Down 0.2 %

LMT stock opened at $473.66 on Friday. The stock has a market cap of $110.98 billion, a P/E ratio of 21.28, a PEG ratio of 2.07 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95. The company’s 50 day moving average is $461.84 and its two-hundred day moving average is $483.39.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

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.