Scharf Investments LLC Sells 11,057 Shares of Lockheed Martin Co. (NYSE:LMT)

Scharf Investments LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 197,786 shares of the aerospace company’s stock after selling 11,057 shares during the quarter. Lockheed Martin accounts for about 2.9% of Scharf Investments LLC’s investment portfolio, making the stock its 19th largest position. Scharf Investments LLC’s holdings in Lockheed Martin were worth $96,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of LMT. Algert Global LLC acquired a new stake in Lockheed Martin in the second quarter valued at about $277,000. Centaurus Financial Inc. boosted its position in Lockheed Martin by 17.6% in the second quarter. Centaurus Financial Inc. now owns 3,400 shares of the aerospace company’s stock valued at $1,588,000 after buying an additional 510 shares in the last quarter. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin during the second quarter worth $27,000. Czech National Bank increased its holdings in shares of Lockheed Martin by 6.2% during the third quarter. Czech National Bank now owns 43,214 shares of the aerospace company’s stock worth $25,261,000 after buying an additional 2,520 shares in the last quarter. Finally, Curbstone Financial Management Corp bought a new position in shares of Lockheed Martin in the 3rd quarter valued at $421,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

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

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 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%. On average, research analysts anticipate that Lockheed Martin Co. will post 27.09 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Royal Bank of Canada decreased their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company cut their target price on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a report on Thursday. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $555.60.

About Lockheed Martin

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.