Traders Buy Lockheed Martin Corporation (LMT) on Weakness
Traders purchased shares of Lockheed Martin Corporation (NYSE:LMT) on weakness during trading hours on Tuesday. $110.97 million flowed into the stock on the tick-up and $95.30 million flowed out of the stock on the tick-down, for a money net flow of $15.67 million into the stock. Of all companies tracked, Lockheed Martin Corporation had the 43rd highest net in-flow for the day. Lockheed Martin Corporation traded down ($0.28) for the day and closed at $301.91
Several equities analysts recently weighed in on the company. BidaskClub upgraded Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Cowen and Company restated a “hold” rating and issued a $295.00 price objective on shares of Lockheed Martin Corporation in a report on Monday, August 14th. Royal Bank Of Canada set a $289.00 price objective on Lockheed Martin Corporation and gave the stock a “hold” rating in a report on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and issued a $265.00 price objective on shares of Lockheed Martin Corporation in a report on Tuesday, August 22nd. Finally, Morgan Stanley started coverage on Lockheed Martin Corporation in a report on Tuesday, August 8th. They issued an “overweight” rating and a $342.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $298.10.
The company has a 50-day moving average of $298.56 and a 200 day moving average of $280.19. The stock has a market capitalization of $87.03 billion, a P/E ratio of 17.53 and a beta of 0.59.
Lockheed Martin Corporation (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.13. Lockheed Martin Corporation had a return on equity of 221.92% and a net margin of 10.37%. The company had revenue of $12.69 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same period in the prior year, the company posted $3.32 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts expect that Lockheed Martin Corporation will post $12.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be paid a $1.82 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $7.28 annualized dividend and a dividend yield of 2.41%. Lockheed Martin Corporation’s dividend payout ratio is currently 42.52%.
In other news, Chairman Marillyn A. Hewson sold 26,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $290.53, for a total value of $7,553,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brian P. Colan sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $107,166.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,220 shares of company stock worth $13,293,563. Corporate insiders own 0.39% of the company’s stock.
Lockheed Martin Corporation Company Profile
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
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