Traders Buy Lockheed Martin Corporation (LMT) on Weakness
Traders purchased shares of Lockheed Martin Corporation (NYSE:LMT) on weakness during trading on Wednesday. $4.36 million flowed into the stock on the tick-up and $2.09 million flowed out of the stock on the tick-down, for a money net flow of $2.27 million into the stock. Of all stocks tracked, Lockheed Martin Corporation had the 29th highest net in-flow for the day. Lockheed Martin Corporation traded down ($0.37) for the day and closed at $301.83
Several research firms recently commented on LMT. BidaskClub raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Cowen and Company reissued a “hold” rating and issued a $295.00 price objective on shares of Lockheed Martin Corporation in a research note on Monday, August 14th. Royal Bank Of Canada set a $289.00 price objective on Lockheed Martin Corporation and gave the company a “hold” rating in a research note on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and issued a $265.00 price objective on shares of Lockheed Martin Corporation in a research note on Tuesday, August 22nd. Finally, Morgan Stanley began coverage on Lockheed Martin Corporation in a research note on Tuesday, August 8th. They issued an “overweight” rating and a $342.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $298.10.
The firm has a 50-day moving average price of $298.56 and a 200-day moving average price of $280.19. The firm has a market capitalization of $86.81 billion, a price-to-earnings ratio of 17.49 and a beta of 0.59.
Lockheed Martin Corporation (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.10 by $0.13. The company had revenue of $12.69 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Lockheed Martin Corporation had a return on equity of 221.92% and a net margin of 10.37%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.32 earnings per share. On average, equities analysts predict that Lockheed Martin Corporation will post $12.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be given a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Wednesday, August 30th. Lockheed Martin Corporation’s dividend payout ratio is currently 42.52%.
In other news, VP Brian P. Colan sold 350 shares of Lockheed Martin Corporation stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $107,166.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Orlando D. Carvalho sold 8,870 shares of Lockheed Martin Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $307.95, for a total value of $2,731,516.50. Following the completion of the sale, the insider now directly owns 27,728 shares of the company’s stock, valued at approximately $8,538,837.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,220 shares of company stock valued at $13,293,563. Company insiders own 0.39% of the company’s stock.
About Lockheed Martin Corporation
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.