Shares of Lockheed Martin Corp. (NYSE:LMT) dropped 2.7% on Tuesday . The company traded as low as $256.87 and last traded at $259.18, with a volume of 3,016,897 shares traded. The stock had previously closed at $266.50.

LMT has been the subject of a number of recent analyst reports. Argus raised their price objective on Lockheed Martin Corp. from $255.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 20th. Zacks Investment Research cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Vetr cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price objective for the company. in a research report on Monday, July 4th. Royal Bank Of Canada raised Lockheed Martin Corp. from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $220.00 to $250.00 in a research report on Wednesday, June 1st. Finally, Credit Suisse Group AG reissued a “neutral” rating and issued a $255.00 price objective (up previously from $225.00) on shares of Lockheed Martin Corp. in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $249.22.

The firm’s 50-day moving average is $255.73 and its 200 day moving average is $234.68. The firm has a market capitalization of $77.26 billion and a PE ratio of 21.240.

Lockheed Martin Corp. (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 19th. The company reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.39. The company earned $12.90 billion during the quarter, compared to analyst estimates of $12.56 billion. During the same quarter in the prior year, the company earned $2.94 EPS. Equities research analysts forecast that Lockheed Martin Corp. will post $12.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be paid a $1.65 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $6.60 annualized dividend and a yield of 2.58%.

In other news, insider Orlando D. Carvalho sold 12,700 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $254.78, for a total transaction of $3,235,706.00. Following the completion of the sale, the insider now owns 29,120 shares in the company, valued at $7,419,193.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sondra L. Barbour sold 66,460 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $255.74, for a total transaction of $16,996,480.40. Following the sale, the insider now owns 31,200 shares of the company’s stock, valued at approximately $7,979,088. The disclosure for this sale can be found here.

Several large investors have made changes to their positions in LMT. Freestone Capital Holdings LLC increased its stake in shares of Lockheed Martin Corp. by 61.8% in the fourth quarter. Freestone Capital Holdings LLC now owns 4,874 shares of the company’s stock valued at $1,058,000 after buying an additional 1,862 shares during the period. Parsons Capital Management Inc. RI increased its stake in shares of Lockheed Martin Corp. by 2.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 6,470 shares of the company’s stock valued at $1,405,000 after buying an additional 180 shares during the period. Buckingham Capital Management Inc. increased its stake in shares of Lockheed Martin Corp. by 0.4% in the third quarter. Buckingham Capital Management Inc. now owns 6,905 shares of the company’s stock valued at $1,432,000 after buying an additional 28 shares during the period. Stephens Inc. AR increased its stake in shares of Lockheed Martin Corp. by 44.4% in the fourth quarter. Stephens Inc. AR now owns 6,633 shares of the company’s stock valued at $1,440,000 after buying an additional 2,038 shares during the period. Finally, Girard Partners LTD. increased its stake in shares of Lockheed Martin Corp. by 14.9% in the fourth quarter. Girard Partners LTD. now owns 9,481 shares of the company’s stock valued at $2,059,000 after buying an additional 1,233 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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