Investors Sell Lockheed Martin Corporation (LMT) on Strength (LMT)
Traders sold shares of Lockheed Martin Corporation (NYSE:LMT) on strength during trading on Friday. $78.58 million flowed into the stock on the tick-up and $125.36 million flowed out of the stock on the tick-down, for a money net flow of $46.78 million out of the stock. Of all stocks tracked, Lockheed Martin Corporation had the 13th highest net out-flow for the day. Lockheed Martin Corporation traded up $0.55 for the day and closed at $302.90
Several brokerages have recently commented on LMT. Cowen and Company restated a “hold” rating and set a $295.00 target price on shares of Lockheed Martin Corporation in a report on Monday, August 14th. Morgan Stanley began coverage on Lockheed Martin Corporation in a report on Tuesday, August 8th. They set an “overweight” rating and a $342.00 target price on the stock. Jefferies Group LLC restated a “hold” rating and set a $265.00 target price on shares of Lockheed Martin Corporation in a report on Tuesday, August 22nd. Royal Bank Of Canada set a $289.00 target price on Lockheed Martin Corporation and gave the stock a “hold” rating in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a report on Thursday, July 27th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Lockheed Martin Corporation currently has an average rating of “Buy” and a consensus target price of $298.10.
The firm has a market cap of $87.23 billion, a P/E ratio of 17.57 and a beta of 0.59. The company has a 50 day moving average price of $299.31 and a 200-day moving average price of $280.50.
Lockheed Martin Corporation (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.13. The business had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.43 billion. Lockheed Martin Corporation had a return on equity of 221.92% and a net margin of 10.37%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.32 EPS. On average, equities research analysts forecast that Lockheed Martin Corporation will post $12.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Wednesday, August 30th. Lockheed Martin Corporation’s dividend payout ratio is presently 42.52%.
In other Lockheed Martin Corporation news, Chairman Marillyn A. Hewson sold 26,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $290.53, for a total transaction of $7,553,780.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Orlando D. Carvalho sold 8,870 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $307.95, for a total value of $2,731,516.50. Following the sale, the insider now owns 27,728 shares in the company, valued at approximately $8,538,837.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,220 shares of company stock valued at $13,293,563. 0.39% of the stock is owned by corporate insiders.
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.
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