Michael Burry Is Selling These 3 Stocks

In this article, we discuss the 3 stocks that Michael Burry is selling. If you want to read about some more stocks that Burry is selling, go directly to Michael Burry Is Selling These 5 Stocks. 

3. Lockheed Martin Corporation (NYSE:LMT)

Number of Hedge Fund Holders: 42      

Lockheed Martin Corporation (NYSE:LMT) is an aerospace and defense firm. Scion had opened a new position in the stock during the third quarter of 2021, buying 30,000 shares purchased at an average price of $361.85 per share. Between October and December 2021, Burry sold this stake off completely. The company had been the second-largest holding in the Scion portfolio during the third quarter of 2021. 

On April 20, Argus analyst John Eade kept a Buy rating on Lockheed Martin Corporation (NYSE:LMT) stock and raised the price target to $500 from $415, identifying a focus on international revenue diversification and geopolitical tensions as growth catalysts for the firm.

Among the hedge funds being tracked by Insider Monkey, New York-based firm Millennium Management is a leading shareholder in Lockheed Martin Corporation (NYSE:LMT) with 399,809 shares worth more than $142 million. 

At the end of the fourth quarter of 2021, 42 hedge funds in the database of Insider Monkey held stakes worth $976 million in Lockheed Martin Corporation (NYSE:LMT), compared to 51 in the previous quarter worth $1.2 billion.

In its Q3 2021 investor letter, Ariel Investments, an asset management firm, highlighted a few stocks and Lockheed Martin Corporation (NYSE:LMT) was one of them. Here is what the fund said:

“Conversely, leading global defense contractor Lockheed Martin Corporation (NYSE:LMT) was the greatest detractor over the trailing one-year period due to pared back F-35 delivery plans and weaker than expected 2022 sales guidance. Nonetheless, we remain confident in LMT’s positioning as they continue to secure a steady stream of lucrative contracts and benefit from a sizeable backlog. Looking ahead, management is focused on driving innovation, underscored by the pending acquisition of Aerojet Rocketdyne enabling vertical integration in propulsion systems for space and missile defense. At today’s valuation, Lockheed Martin Corporation (NYSE:LMT) is currently trading at a 32% discount to our estimate of private market value.”