Lockheed Martin Corp. (LMT) Trading Down 2%
Lockheed Martin Corp. (NYSE:LMT)’s share price was down 2% during mid-day trading on Tuesday . The stock traded as low as $239.25 and last traded at $239.30, with a volume of 912,494 shares changing hands. The stock had previously closed at $244.30.
Several equities analysts recently issued reports on LMT shares. Zacks Investment Research cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Stifel Nicolaus cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $242.44 price target on the stock. in a report on Thursday, May 12th. They noted that the move was a valuation call. Royal Bank Of Canada cut Lockheed Martin Corp. from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $241.58 to $244.00 in a report on Thursday, May 19th. They noted that the move was a valuation call. Berenberg Bank cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and raised their price target for the company from $250.00 to $260.00 in a report on Tuesday, May 31st. Finally, Vetr cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price target on the stock. in a report on Monday, July 4th. One 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. The company presently has an average rating of “Hold” and an average target price of $254.39.
The stock’s 50 day moving average price is $255.00 and its 200 day moving average price is $237.33. The stock has a market cap of $73.31 billion and a price-to-earnings ratio of 20.15.
Lockheed Martin Corp. (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.39. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.56 billion. During the same quarter in the prior year, the firm earned $2.94 EPS. On average, equities research analysts expect that Lockheed Martin Corp. will post $12.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be issued a dividend of $1.65 per share. The ex-dividend date is Tuesday, August 30th. This represents a $6.60 dividend on an annualized basis and a yield of 2.72%.
In other Lockheed Martin Corp. news, 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 transaction of $3,235,706.00. Following 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $16,996,480.40. Following the transaction, the insider now owns 31,200 shares in the company, valued at approximately $7,979,088. 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 shares of Lockheed Martin Corp. (NYSE:LMT) by 5.5% during the fourth quarter, according to its most recent disclosure 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 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.