Clark Capital Management Group Inc. Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Clark Capital Management Group Inc. trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing 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 period. Clark Capital Management Group Inc.’s holdings in Lockheed Martin were worth $2,299,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on LMT. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Citigroup lowered their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Jefferies Financial Group lowered their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Monday, April 28th. Finally, Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target for the company in a research report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Price Performance

NYSE:LMT opened at $473.66 on Friday. The firm has a market cap of $110.98 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. 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 earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 EPS for the current year.

Insider Activity

In related news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % 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 over the last quarter. Company insiders own 0.14% of the company’s stock.

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.