Traders Buy Lockheed Martin Corp. (LMT) on Weakness
Investors purchased shares of Lockheed Martin Corp. (NYSE:LMT) on weakness during trading on Friday. $89.32 million flowed into the stock on the tick-up and $72.29 million flowed out of the stock on the tick-down, for a money net flow of $17.03 million into the stock. Of all equities tracked, Lockheed Martin Corp. had the 40th highest net in-flow for the day. Lockheed Martin Corp. traded down ($0.29) for the day and closed at $243.32
Several brokerages have recently issued reports on LMT. Argus upped 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. Zacks Investment Research upgraded shares of Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $271.00 target price for the company in a report on Monday, May 16th. Berenberg Bank cut shares of Lockheed Martin Corp. from a “buy” rating to a “hold” rating and upped their target price for the company from $250.00 to $260.00 in a report on Tuesday, May 31st. Jefferies Group restated a “hold” rating on shares of Lockheed Martin Corp. in a report on Wednesday, August 3rd. Finally, Royal Bank Of Canada upgraded shares of Lockheed Martin Corp. from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $220.00 to $250.00 in a report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $254.39.
The company has a market capitalization of $73.70 billion and a price-to-earnings ratio of 20.26. The stock’s 50-day moving average price is $254.30 and its 200 day moving average price is $237.42.
Lockheed Martin Corp. (NYSE:LMT) last issued 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. During the same quarter last year, the firm posted $2.94 EPS. The company earned $12.90 billion during the quarter, compared to the consensus estimate of $12.56 billion. Analysts forecast that Lockheed Martin Corp. will post $12.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be paid a $1.65 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.71%.
In related news, insider Sondra L. Barbour sold 66,460 shares of Lockheed Martin Corp. 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 sale, the insider now owns 31,200 shares in the company, valued at $7,979,088. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Orlando D. Carvalho sold 12,700 shares of Lockheed Martin Corp. stock in a transaction on Friday, July 22nd. The stock was 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 of the company’s stock, valued at approximately $7,419,193.60. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Lockheed Martin Corp. stock. Schwab Charles Investment Management Inc. increased its position in Lockheed Martin Corp. (NYSE:LMT) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 917,016 shares of the company’s stock after buying an additional 47,745 shares during the period. Schwab Charles Investment Management Inc. owned about 0.30% of Lockheed Martin Corp. worth $199,131,000 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.
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