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

Truist Financial Corp decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 8.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 257,353 shares of the aerospace company’s stock after selling 22,361 shares during the period. Truist Financial Corp’s holdings in Lockheed Martin were worth $116,643,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Lockheed Martin by 73.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 27 shares during the last quarter. Activest Wealth Management increased its stake in Lockheed Martin by 1,200.0% in the 4th quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 60 shares during the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $33,000. Providence Capital Advisors LLC bought a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $35,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Lockheed Martin by 1,925.0% in the fourth quarter. Iron Horse Wealth Management LLC now owns 81 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 77 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on LMT. Citigroup increased their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday. Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, January 24th. The Goldman Sachs Group reduced their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday. Morgan Stanley dropped their price target on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Finally, UBS Group increased their price objective on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $485.40.

Insider Activity

In related news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,874 shares of company stock worth $7,249,946. Corporate insiders own 0.17% of the company’s stock.

Lockheed Martin Trading Down 0.8 %

Shares of NYSE:LMT traded down $3.49 during trading on Friday, reaching $461.29. 857,964 shares of the company were exchanged, compared to its average volume of 1,102,151. 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 firm has a market capitalization of $110.68 billion, a PE ratio of 16.88, a P/E/G ratio of 4.25 and a beta of 0.48. The business’s fifty day simple moving average is $443.74 and its 200-day simple moving average is $444.46. Lockheed Martin Co. has a 12-month low of $393.77 and a 12-month high of $479.50.

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

Lockheed Martin 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.