Traders Sell Shares of Lockheed Martin Corporation (LMT) on Strength (LMT)
Investors sold shares of Lockheed Martin Corporation (NYSE:LMT) on strength during trading hours on Thursday. $89.55 million flowed into the stock on the tick-up and $136.48 million flowed out of the stock on the tick-down, for a money net flow of $46.93 million out of the stock. Of all stocks tracked, Lockheed Martin Corporation had the 28th highest net out-flow for the day. Lockheed Martin Corporation traded up $1.14 for the day and closed at $301.34
LMT has been the subject of several recent research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $240.00 price target on shares of Lockheed Martin Corporation in a report on Monday, June 12th. BidaskClub raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research downgraded Lockheed Martin Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $263.00 price target on shares of Lockheed Martin Corporation in a report on Wednesday, July 12th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $300.00 price target (up from $280.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Lockheed Martin Corporation has an average rating of “Buy” and a consensus price target of $303.19.
The company’s 50 day moving average price is $300.51 and its 200-day moving average price is $281.44. The firm has a market capitalization of $86.76 billion, a P/E ratio of 17.48 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 (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the prior year, the business posted $3.32 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, analysts expect that Lockheed Martin Corporation will post $12.64 EPS for the current year.
The firm also recently declared 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 of this dividend is Wednesday, August 30th. This represents a $7.28 annualized dividend and a dividend yield of 2.42%. Lockheed Martin Corporation’s payout ratio is 42.52%.
In other news, insider Orlando D. Carvalho sold 8,870 shares of the company’s 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 completion of the sale, the insider now owns 27,728 shares in the company, valued at $8,538,837.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian P. Colan sold 350 shares of the company’s stock in a transaction 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. In the last three months, insiders sold 45,220 shares of company stock valued at $13,293,563. Company insiders own 0.39% of the company’s stock.
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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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