Lockheed Martin Corp. (LMT) Trading Up 1.5%
Lockheed Martin Corp. (NYSE:LMT) shares were up 1.5% during mid-day trading on Wednesday . The stock traded as high as $243.62 and last traded at $242.97, with a volume of 2,762,467 shares. The stock had previously closed at $239.45.
A number of research analysts have recently weighed in on LMT shares. Jefferies Group restated a “neutral” rating on shares of Lockheed Martin Corp. in a report on Tuesday. Vetr upgraded Lockheed Martin Corp. from a “buy” rating to a “strong-buy” rating and set a $275.75 target price on the stock in a report on Monday. JPMorgan Chase & Co. started coverage on Lockheed Martin Corp. in a report on Thursday, August 25th. They issued a “neutral” rating and a $284.00 target price on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $245.00 target price on shares of Lockheed Martin Corp. in a report on Wednesday, August 24th. Finally, Argus raised their target price on Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $254.39.
The company has a 50-day moving average price of $255.00 and a 200-day moving average price of $237.33. The company has a market capitalization of $73.60 billion and a PE ratio of 20.23.
Lockheed Martin Corp. (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.39. The company earned $12.90 billion during the quarter, compared to the consensus estimate of $12.56 billion. During the same period in the prior year, the firm earned $2.94 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Corp. will post $12.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be given a $1.65 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $6.60 annualized dividend and a yield of 2.72%.
In related news, insider Sondra L. Barbour sold 66,460 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $255.74, for a total value of $16,996,480.40. Following the transaction, the insider now directly owns 31,200 shares of the company’s stock, valued at approximately $7,979,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlando D. Carvalho sold 12,700 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $254.78, for a total value of $3,235,706.00. Following the completion of the transaction, the insider now directly owns 29,120 shares in the company, valued at $7,419,193.60. The disclosure for this sale can be found here.
Other institutional investors have added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in Lockheed Martin Corp. by 5.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 917,016 shares of the company’s stock valued at $199,131,000 after buying an additional 47,745 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Lockheed Martin Corp. by 524.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 39,665 shares of the company’s stock valued at $8,613,000 after buying an additional 33,318 shares during the last quarter. Finally, US Bancorp DE boosted its position in Lockheed Martin Corp. by 14.5% in the fourth quarter. US Bancorp DE now owns 89,089 shares of the company’s stock valued at $19,344,000 after buying an additional 11,265 shares during the last quarter.
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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