Lockheed Martin Corp. (LMT) Sees Large Volume Increase
Shares of Lockheed Martin Corp. (NYSE:LMT) saw unusually-strong trading volume on Monday . Approximately 4,119,346 shares traded hands during mid-day trading, an increase of 168% from the previous session’s volume of 1,536,668 shares.The stock last traded at $255.61 and had previously closed at $251.90.
Several analysts recently commented on the stock. Wolfe Research downgraded shares of Lockheed Martin Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 27th. Zacks Investment Research downgraded shares of Lockheed Martin Corp. from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank AG lifted their target price on shares of Lockheed Martin Corp. from $230.00 to $240.00 and gave the stock a “hold” rating in a report on Thursday, April 7th. Vetr downgraded shares of Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 target price for the company. in a report on Monday, July 4th. Finally, Royal Bank Of Canada downgraded shares of Lockheed Martin Corp. from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $241.58 to $244.00 in a report on Thursday, May 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. Lockheed Martin Corp. presently has a consensus rating of “Hold” and a consensus price target of $239.44.
The stock has a 50-day moving average price of $241.43 and a 200-day moving average price of $226.35. The company has a market capitalization of $77.45 billion and a price-to-earnings ratio of 22.50.
Lockheed Martin Corp. (NYSE:LMT) last issued its earnings results on Tuesday, April 26th. The company reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $11.70 billion for the quarter, compared to analysts’ expectations of $11.36 billion. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.74 EPS. On average, equities analysts anticipate that Lockheed Martin Corp. will post $11.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be given a dividend of $1.65 per share. The ex-dividend date is Tuesday, August 30th. This represents a $6.60 dividend on an annualized basis and a yield of 2.59%.
In other news, SVP Maryanne Lavan sold 21,720 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $233.19, for a total value of $5,064,886.80. Following the completion of the transaction, the senior vice president now directly owns 19,325 shares in the company, valued at $4,506,396.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marillyn A. Hewson sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $233.16, for a total transaction of $5,829,000.00. Following the completion of the transaction, the chief executive officer now owns 90,366 shares of the company’s stock, valued at $21,069,736.56. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. IFC Holdings Incorporated FL raised its position in Lockheed Martin Corp. by 136.6% in the fourth quarter. IFC Holdings Incorporated FL now owns 4,737 shares of the company’s stock worth $1,028,000 after buying an additional 2,735 shares during the period. Freestone Capital Holdings LLC raised its position in Lockheed Martin Corp. by 61.8% in the fourth quarter. Freestone Capital Holdings LLC now owns 4,874 shares of the company’s stock worth $1,058,000 after buying an additional 1,862 shares during the period. United Asset Strategies Inc. raised its position in Lockheed Martin Corp. by 0.7% in the fourth quarter. United Asset Strategies Inc. now owns 4,951 shares of the company’s stock worth $1,075,000 after buying an additional 33 shares during the period. Haverford Trust Co. raised its position in Lockheed Martin Corp. by 24.2% in the fourth quarter. Haverford Trust Co. now owns 5,654 shares of the company’s stock worth $1,228,000 after buying an additional 1,100 shares during the period. Finally, Profund Advisors LLC raised its position in Lockheed Martin Corp. by 27.8% in the fourth quarter. Profund Advisors LLC now owns 6,068 shares of the company’s stock worth $1,318,000 after buying an additional 1,321 shares during the period.
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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