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 Monday. $59.98 million flowed into the stock on the tick-up and $102.91 million flowed out of the stock on the tick-down, for a money net flow of $42.93 million out of the stock. Of all equities tracked, Lockheed Martin Corporation had the 0th highest net out-flow for the day. Lockheed Martin Corporation traded up $1.04 for the day and closed at $311.33
LMT has been the topic of several recent analyst reports. Cowen and Company reissued a “hold” rating and set a $295.00 price target on shares of Lockheed Martin Corporation in a research report on Monday, August 14th. Deutsche Bank AG restated a “buy” rating and set a $340.00 price objective (up from $305.00) on shares of Lockheed Martin Corporation in a research report on Monday. Morgan Stanley initiated coverage on Lockheed Martin Corporation in a research report on Tuesday, August 8th. They set an “overweight” rating and a $342.00 price objective for the company. Zacks Investment Research raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research note on Thursday, July 27th. Finally, BidaskClub raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Lockheed Martin Corporation has a consensus rating of “Buy” and a consensus target price of $307.88.
The company has a 50-day moving average of $305.09 and a 200 day moving average of $285.64. The firm has a market cap of $90.34 billion, a P/E ratio of 18.20 and a beta of 0.59.
Lockheed Martin Corporation (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share for the quarter, topping the 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%. Lockheed Martin Corporation’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.32 earnings per share. Equities research analysts forecast that Lockheed Martin Corporation will post $12.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Saturday, September 30th. This is a positive change from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. Lockheed Martin Corporation’s dividend payout ratio (DPR) is currently 42.52%.
Lockheed Martin Corporation announced that its board has approved a stock buyback plan on Thursday, September 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other news, SVP Maryanne Lavan sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $290.11, for a total transaction of $2,901,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian P. Colan sold 350 shares of Lockheed Martin Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total transaction of $107,166.50. The disclosure for this sale can be found here. Insiders sold a total of 45,220 shares of company stock worth $13,293,563 in the last 90 days. Company insiders own 0.39% of the company’s stock.
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Lockheed Martin Corporation Company Profile
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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