Lockheed Martin Corp. (LMT) Trading Down 1.9%
Lockheed Martin Corp. (NYSE:LMT)’s share price fell 1.9% on Tuesday . The company traded as low as $249.05 and last traded at $249.39, with a volume of 5,688,664 shares traded. The stock had previously closed at $254.20.
A number of brokerages have recently weighed in on LMT. Zacks Investment Research raised Lockheed Martin Corp. from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Monday, May 2nd. Royal Bank Of Canada upgraded Lockheed Martin Corp. from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $220.00 to $250.00 in a report on Wednesday, June 1st. Jefferies Group reiterated a “hold” rating and set a $220.00 price target on shares of Lockheed Martin Corp. in a report on Sunday, May 1st. Drexel Hamilton reiterated a “buy” rating on shares of Lockheed Martin Corp. in a report on Wednesday, April 27th. Finally, JPMorgan Chase & Co. started coverage on Lockheed Martin Corp. in a report on Thursday. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $250.03.
The stock has a market capitalization of $75.16 billion and a P/E ratio of 20.66. The firm has a 50-day moving average of $256.14 and a 200-day moving average of $236.16.
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 Zacks’ consensus estimate of $2.93 by $0.39. The firm earned $12.90 billion during the quarter, compared to analysts’ expectations of $12.56 billion. During the same quarter in the previous year, the business earned $2.94 EPS. Analysts forecast that Lockheed Martin Corp. will post $12.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Thursday, September 1st will be paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, August 30th.
In other news, insider Orlando D. Carvalho sold 12,700 shares of the firm’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 completion of the transaction, the insider now owns 29,120 shares in the company, valued at approximately $7,419,193.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 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 disclosure for this sale can be found here.
Other hedge funds and institutional investors recently made changes to their positions in the company. Buckingham Capital Management Inc. boosted its position in shares of Lockheed Martin Corp. by 0.4% in the third quarter. Buckingham Capital Management Inc. now owns 6,905 shares of the company’s stock worth $1,432,000 after buying an additional 28 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Lockheed Martin Corp. by 44.4% in the fourth quarter. Stephens Inc. AR now owns 6,633 shares of the company’s stock worth $1,440,000 after buying an additional 2,038 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Lockheed Martin Corp. by 1,156.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 14,450 shares of the company’s stock worth $3,138,000 after buying an additional 13,300 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Lockheed Martin Corp. during the fourth quarter worth about $4,595,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Lockheed Martin Corp. by 524.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 39,665 shares of the company’s stock worth $8,613,000 after buying an additional 33,318 shares during the last 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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