Investors Buy Shares of Lockheed Martin (LMT) on Weakness
Investors bought shares of Lockheed Martin Co. (NYSE:LMT) on weakness during trading hours on Monday. $94.57 million flowed into the stock on the tick-up and $47.12 million flowed out of the stock on the tick-down, for a money net flow of $47.45 million into the stock. Of all stocks tracked, Lockheed Martin had the 15th highest net in-flow for the day. Lockheed Martin traded down ($0.99) for the day and closed at $308.71
Several analysts recently weighed in on LMT shares. Robert W. Baird restated a “buy” rating and issued a $326.00 price objective on shares of Lockheed Martin in a report on Friday, December 21st. ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Jefferies Financial Group restated a “hold” rating and issued a $274.00 price objective on shares of Lockheed Martin in a report on Wednesday, January 9th. Morgan Stanley downgraded Lockheed Martin from an “overweight” rating to an “equal weight” rating and set a $300.00 price objective for the company. in a report on Wednesday, January 9th. Finally, Vertical Group upgraded Lockheed Martin from a “hold” rating to a “buy” rating in a report on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lockheed Martin has a consensus rating of “Buy” and an average price target of $350.00.
The company has a debt-to-equity ratio of 8.70, a current ratio of 1.12 and a quick ratio of 0.91. The company has a market cap of $87.40 billion, a PE ratio of 17.29, a PEG ratio of 2.26 and a beta of 1.01.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a $2.20 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $8.80 annualized dividend and a yield of 2.85%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.
In other news, Chairman Marillyn A. Hewson sold 59,434 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $306.60, for a total transaction of $18,222,464.40. Following the sale, the chairman now owns 109,531 shares in the company, valued at $33,582,204.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian P. Colan sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $304.56, for a total value of $1,218,240.00. Following the sale, the vice president now owns 2,489 shares in the company, valued at approximately $758,049.84. The disclosure for this sale can be found here. Insiders have sold 85,186 shares of company stock worth $26,010,927 in the last 90 days. Insiders own 0.35% of the company’s stock.
Several hedge funds have recently modified their holdings of LMT. Man Group plc boosted its position in Lockheed Martin by 63.0% in the third quarter. Man Group plc now owns 70,260 shares of the aerospace company’s stock valued at $24,307,000 after buying an additional 27,160 shares during the last quarter. California Public Employees Retirement System boosted its position in Lockheed Martin by 40.6% in the fourth quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock valued at $339,041,000 after buying an additional 373,997 shares during the last quarter. PFG Advisors purchased a new stake in Lockheed Martin in the fourth quarter valued at approximately $886,000. Schulhoff & Co. Inc. boosted its position in Lockheed Martin by 1.6% in the fourth quarter. Schulhoff & Co. Inc. now owns 13,088 shares of the aerospace company’s stock valued at $3,427,000 after buying an additional 205 shares during the last quarter. Finally, EFG Asset Management Americas Corp. boosted its position in Lockheed Martin by 70.7% in the first quarter. EFG Asset Management Americas Corp. now owns 3,059 shares of the aerospace company’s stock valued at $918,000 after buying an additional 1,267 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.
About Lockheed Martin (NYSE:LMT)
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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