Truist Financial Corp Sells 22,361 Shares of Lockheed Martin Co. (NYSE:LMT)

Truist Financial Corp cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 257,353 shares of the aerospace company’s stock after selling 22,361 shares during the period. Truist Financial Corp owned 0.11% of Lockheed Martin worth $116,643,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. KFA Private Wealth Group LLC purchased a new position in shares of Lockheed Martin in the fourth quarter valued at $215,000. Kovack Advisors Inc. grew its holdings in Lockheed Martin by 11.3% during the 4th quarter. Kovack Advisors Inc. now owns 2,907 shares of the aerospace company’s stock valued at $1,317,000 after buying an additional 294 shares in the last quarter. First Fiduciary Investment Counsel Inc. grew its holdings in Lockheed Martin by 44.5% during the 4th quarter. First Fiduciary Investment Counsel Inc. now owns 26,735 shares of the aerospace company’s stock valued at $12,117,000 after buying an additional 8,232 shares in the last quarter. Bryn Mawr Capital Management LLC increased its position in shares of Lockheed Martin by 36.4% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 3,171 shares of the aerospace company’s stock valued at $1,437,000 after buying an additional 847 shares during the period. Finally, Jackson Hole Capital Partners LLC lifted its holdings in shares of Lockheed Martin by 4.4% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 9,580 shares of the aerospace company’s stock worth $4,342,000 after buying an additional 408 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LMT. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Morgan Stanley decreased their price target on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Citigroup lifted their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, UBS Group raised their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and a consensus price target of $485.40.

Insiders Place Their Bets

In other news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Price Performance

LMT stock traded down $3.49 during mid-day trading on Friday, hitting $461.29. 857,964 shares of the stock were exchanged, compared to its average volume of 1,102,151. The business has a fifty day moving average price of $443.74 and a 200 day moving average price of $444.46. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03. The stock has a market capitalization of $110.68 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 4.25 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. The company had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. Lockheed Martin’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $6.43 EPS. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.05 EPS for the current 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.