Investors Sell Shares of Lockheed Martin Corp. (LMT) on Strength (LMT)
Traders sold shares of Lockheed Martin Corp. (NYSE:LMT) on strength during trading hours on Thursday. $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 equities 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 several analyst reports. Zacks Investment Research lowered Lockheed Martin Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $245.00 target price on shares of Lockheed Martin Corp. in a research note on Wednesday, August 24th. Vetr upgraded Lockheed Martin Corp. from a “buy” rating to a “strong-buy” rating and set a $275.75 target price for the company in a research note on Monday, August 29th. Credit Suisse Group AG restated a “neutral” rating and issued a $255.00 target price (up previously from $225.00) on shares of Lockheed Martin Corp. in a research note on Friday, July 22nd. Finally, Royal Bank Of Canada lowered Lockheed Martin Corp. from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $241.58 to $244.00 in a research note on Thursday, May 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $254.39.
The company’s 50 day moving average price is $254.30 and its 200-day moving average price is $237.42. The firm has a market cap of $73.70 billion and a PE ratio of 20.26.
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. On average, equities analysts predict that Lockheed Martin Corp. will post $12.51 earnings per share for the current fiscal 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 2.71%.
In other Lockheed Martin Corp. news, insider Sondra L. Barbour sold 66,460 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total value of $16,996,480.40. Following the completion of the transaction, the insider now owns 31,200 shares in the company, valued at $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 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 completion of the transaction, the insider now owns 29,120 shares of the company’s stock, 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 increased its stake in shares of Lockheed Martin Corp. (NYSE:LMT) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting 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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