Corebridge Financial Inc. Sells 2,607 Shares of Lockheed Martin Co. (NYSE:LMT)

Corebridge Financial Inc. lowered its position in Lockheed Martin Co. (NYSE:LMT) by 5.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,486 shares of the aerospace company’s stock after selling 2,607 shares during the period. Corebridge Financial Inc.’s holdings in Lockheed Martin were worth $23,561,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin during the third quarter valued at about $26,000. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $32,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $42,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Lockheed Martin during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm’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 transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 in the last three months. 0.17% of the stock is owned by insiders.

Lockheed Martin Price Performance

NYSE LMT opened at $434.72 on Tuesday. The company has a market cap of $102.33 billion, a PE ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm’s 50 day moving average price is $459.96 and its 200-day moving average price is $513.50.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 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 fiscal year.

Lockheed Martin Dividend Announcement

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

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $685.00 to $485.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. UBS Group dropped their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. StockNews.com upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup dropped their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.