Lockheed Martin Co. (NYSE:LMT) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,486 shares of the aerospace company’s stock after selling 2,607 shares during the quarter. Corebridge Financial Inc.’s holdings in Lockheed Martin were worth $23,561,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Virtue Capital Management LLC boosted its position in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after purchasing an additional 1,192 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after buying an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. lifted its position in shares of Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after acquiring an additional 3,247 shares during the period. Finally, Capital Investment Advisors LLC increased its holdings in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after acquiring an additional 2,011 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Trading Down 1.1 %

Shares of LMT opened at $434.72 on Tuesday. 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 firm has a 50-day moving average price of $459.96 and a 200 day moving average price of $513.50. Lockheed Martin Co. has a 12-month low of $419.70 and a 12-month high of $618.95. The firm has a market capitalization of $102.33 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday. Susquehanna reduced their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $685.00 to $485.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average target price of $544.20.

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.