Dale P. Bennett Sells 2,000 Shares of Lockheed Martin Corporation (LMT) Stock
Lockheed Martin Corporation (NYSE:LMT) insider Dale P. Bennett sold 2,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $313.75, for a total value of $627,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Lockheed Martin Corporation (LMT) traded up $1.43 during midday trading on Friday, reaching $315.85. The company’s stock had a trading volume of 853,700 shares, compared to its average volume of 1,032,795. The company has a current ratio of 1.32, a quick ratio of 0.95 and a debt-to-equity ratio of 6.56. Lockheed Martin Corporation has a 12 month low of $245.50 and a 12 month high of $322.19. The stock has a market cap of $89,452.48, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.26 by ($0.02). Lockheed Martin had a return on equity of 221.41% and a net margin of 7.31%. The company had revenue of $12.17 billion for the quarter, compared to analysts’ expectations of $12.83 billion. During the same quarter last year, the company earned $3.61 EPS. Lockheed Martin’s revenue for the quarter was up 5.4% compared to the same quarter last year. analysts anticipate that Lockheed Martin Corporation will post 13.12 EPS for the current year.
Lockheed Martin announced that its Board of Directors has authorized a stock buyback program on Thursday, September 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a dividend of $2.00 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $1.82. The ex-dividend date is Saturday, September 30th. This represents a $8.00 annualized dividend and a yield of 2.53%. Lockheed Martin’s dividend payout ratio is 64.36%.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. acquired a new stake in Lockheed Martin Corporation (NYSE:LMT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors and hedge funds own 78.94% of the company’s stock.
Several equities analysts recently issued reports on LMT shares. Bank of America set a $360.00 target price on Lockheed Martin and gave the stock a “buy” rating in a research note on Friday, October 27th. Royal Bank Of Canada set a $314.00 target price on Lockheed Martin and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Buckingham Research increased their target price on Lockheed Martin from $316.00 to $348.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research lowered Lockheed Martin from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, Stifel Nicolaus increased their target price on Lockheed Martin from $320.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Lockheed Martin has a consensus rating of “Buy” and an average target price of $321.90.
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About Lockheed Martin
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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