Traders Buy Shares of Lockheed Martin Corp. (LMT) on Weakness
Traders purchased shares of Lockheed Martin Corp. (NYSE:LMT) on weakness during trading on Monday. $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 10th highest net in-flow for the day. Lockheed Martin Corp. traded down ($0.29) for the day and closed at $243.32
A number of research firms recently commented on LMT. Jefferies Group reaffirmed a “neutral” rating on shares of Lockheed Martin Corp. in a research note on Tuesday, August 30th. Vetr raised Lockheed Martin Corp. from a “buy” rating to a “strong-buy” rating and set a $275.75 price objective on the stock in a research note on Monday, August 29th. JPMorgan Chase & Co. began coverage on Lockheed Martin Corp. in a research note on Thursday, August 25th. They issued a “neutral” rating and a $284.00 price objective on the stock. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Lockheed Martin Corp. in a research note on Wednesday, August 24th. Finally, Argus reiterated a “buy” rating and issued a $290.00 target price on shares of Lockheed Martin Corp. in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $254.39.
The firm has a market cap of $73.70 billion and a price-to-earnings ratio of 20.26. The firm has a 50-day moving average of $254.30 and a 200-day moving average of $237.42.
Lockheed Martin Corp. (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 19th. The company reported $3.32 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.39. The business earned $12.90 billion during the quarter, compared to analysts’ expectations of $12.56 billion. During the same quarter last year, the business posted $2.94 EPS. Equities analysts expect that Lockheed Martin Corp. will post $12.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be issued a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, August 30th.
In other news, insider Sondra L. Barbour sold 66,460 shares of the 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 completion of the transaction, the insider now owns 31,200 shares of the company’s stock, valued at approximately $7,979,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Orlando D. Carvalho sold 12,700 shares of the 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 completion of the transaction, the insider now directly 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.
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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