Scharf Investments LLC Has $96.11 Million Stake in Lockheed Martin Co. (NYSE:LMT)

Scharf Investments LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,786 shares of the aerospace company’s stock after selling 11,057 shares during the quarter. Lockheed Martin makes up approximately 2.9% of Scharf Investments LLC’s holdings, making the stock its 19th largest holding. Scharf Investments LLC owned about 0.08% of Lockheed Martin worth $96,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LMT. Clear Creek Financial Management LLC increased its holdings in shares of Lockheed Martin by 19.5% in the fourth quarter. Clear Creek Financial Management LLC now owns 448 shares of the aerospace company’s stock valued at $218,000 after purchasing an additional 73 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at $35,000. Austin Private Wealth LLC increased its stake in shares of Lockheed Martin by 11.3% in the 4th quarter. Austin Private Wealth LLC now owns 1,142 shares of the aerospace company’s stock valued at $555,000 after buying an additional 116 shares during the period. Caprock Group LLC lifted its stake in shares of Lockheed Martin by 3.3% during the fourth quarter. Caprock Group LLC now owns 7,487 shares of the aerospace company’s stock valued at $3,639,000 after acquiring an additional 238 shares during the period. Finally, Hamilton Point Investment Advisors LLC boosted its holdings in Lockheed Martin by 2.2% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 1,050 shares of the aerospace company’s stock valued at $510,000 after acquiring an additional 23 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $462.53 on Friday. The stock has a market capitalization of $108.88 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 3.78 and a beta of 0.48. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The stock has a 50 day moving average price of $493.89 and a 200 day moving average price of $536.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.12 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Analysts predict that Lockheed Martin Co. will post 27.09 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research report on Thursday. Susquehanna reduced their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday. TD Cowen upped their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup decreased their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

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.