Traders Buy Shares of Lockheed Martin Corp. (LMT) on Weakness
Investors bought shares of Lockheed Martin Corp. (NYSE:LMT) on weakness during trading hours 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 stocks 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
LMT has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Lockheed Martin Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $245.00 price target on shares of Lockheed Martin Corp. in a research report on Wednesday, August 24th. Vetr raised shares of Lockheed Martin Corp. from a “buy” rating to a “strong-buy” rating and set a $275.75 price target for the company in a research report on Monday, August 29th. Credit Suisse Group AG reissued a “neutral” rating and issued a $255.00 price target (up from $225.00) on shares of Lockheed Martin Corp. in a research report on Friday, July 22nd. Finally, Royal Bank Of Canada downgraded Lockheed Martin Corp. from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $241.58 to $244.00 in a report on Thursday, May 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $254.39.
The company has a 50-day moving average of $254.30 and a 200 day moving average of $237.42. The stock has a market capitalization of $73.70 billion and a PE ratio of 20.26.
Lockheed Martin Corp. (NYSE:LMT) last released its earnings results on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.93 by $0.39. The firm earned $12.90 billion during the quarter, compared to the consensus estimate of $12.56 billion. During the same quarter in the previous year, the firm posted $2.94 EPS. Equities analysts predict that Lockheed Martin Corp. will post $12.75 EPS for the current year.
The company also recently announced 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. This represents a $6.60 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, August 30th.
In other 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 transaction of $16,996,480.40. Following the sale, the insider now owns 31,200 shares in the company, valued at approximately $7,979,088. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Orlando D. Carvalho sold 12,700 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $254.78, for a total value of $3,235,706.00. Following the sale, the insider now 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 increased its position in Lockheed Martin Corp. (NYSE:LMT) by 14.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 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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