Traders Sell Shares of Lockheed Martin Corp. (LMT) on Strength (LMT)
Investors sold shares of Lockheed Martin Corp. (NYSE:LMT) on strength during trading hours on Wednesday. $149.78 million flowed into the stock on the tick-up and $205.56 million flowed out of the stock on the tick-down, for a money net flow of $55.78 million out of the stock. Of all companies tracked, Lockheed Martin Corp. had the 0th highest net out-flow for the day. Lockheed Martin Corp. traded up $3.52 for the day and closed at $242.97
LMT has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $279.00 target price for the company in a report on Tuesday, July 5th. Argus boosted their target price on shares of Lockheed Martin Corp. from $255.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Drexel Hamilton restated a “buy” rating and issued a $284.00 target price on shares of Lockheed Martin Corp. in a report on Wednesday, July 20th. Stifel Nicolaus downgraded shares of Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $242.44 target price for the company. in a report on Thursday, May 12th. They noted that the move was a valuation call. Finally, Berenberg Bank downgraded shares of Lockheed Martin Corp. from a “buy” rating to a “hold” rating and boosted their target price for the company from $250.00 to $260.00 in a report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $254.39.
The stock’s 50 day moving average is $255.00 and its 200-day moving average is $237.33. The company has a market cap of $73.60 billion and a PE ratio of 20.23.
Lockheed Martin Corp. (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $3.32 earnings per share (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 analysts’ expectations of $12.56 billion. During the same period last year, the company earned $2.94 earnings per share. Equities analysts predict that Lockheed Martin Corp. will post $12.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Thursday, September 1st will be given a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Tuesday, August 30th.
In related news, insider Sondra L. Barbour sold 66,460 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total transaction of $16,996,480.40. Following the transaction, the insider now owns 31,200 shares of the company’s stock, valued at $7,979,088. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Orlando D. Carvalho sold 12,700 shares of the firm’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 transaction of $3,235,706.00. Following the transaction, the insider now directly owns 29,120 shares in the company, valued at approximately $7,419,193.60. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Lockheed Martin Corp. stock. US Bancorp DE raised its stake in shares of Lockheed Martin Corp. (NYSE:LMT) by 14.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,089 shares of the company’s stock after buying an additional 11,265 shares during the period. US Bancorp DE’s holdings in Lockheed Martin Corp. were worth $19,344,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.