Traders Sell Shares of Lockheed Martin (LMT) on Strength (LMT)
Investors sold shares of Lockheed Martin Co. (NYSE:LMT) on strength during trading hours on Friday. $66.78 million flowed into the stock on the tick-up and $139.04 million flowed out of the stock on the tick-down, for a money net flow of $72.26 million out of the stock. Of all equities tracked, Lockheed Martin had the 0th highest net out-flow for the day. Lockheed Martin traded up $0.14 for the day and closed at $328.14
A number of analysts recently weighed in on LMT shares. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $343.00 price target for the company in a report on Wednesday, July 11th. Morgan Stanley lowered their price target on shares of Lockheed Martin from $370.00 to $352.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Cowen raised shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price target for the company in a report on Wednesday, July 25th. Stifel Nicolaus lowered their price target on shares of Lockheed Martin from $400.00 to $370.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Finally, Sanford C. Bernstein raised their price target on shares of Lockheed Martin from $349.00 to $356.00 and gave the company a “market perform” rating in a report on Wednesday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $377.14.
The stock has a market capitalization of $93.45 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.60 and a beta of 0.71. The company has a current ratio of 1.19, a quick ratio of 0.97 and a debt-to-equity ratio of 28.14.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be given a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.68%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, November 30th. Lockheed Martin’s dividend payout ratio (DPR) is currently 60.02%.
Lockheed Martin declared that its Board of Directors has authorized a share repurchase program on Thursday, September 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, Chairman Marillyn A. Hewson sold 25,000 shares of Lockheed Martin stock in a transaction on Friday, July 27th. The shares were sold at an average price of $323.68, for a total transaction of $8,092,000.00. Following the transaction, the chairman now directly owns 90,625 shares of the company’s stock, valued at $29,333,500. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Maryanne Lavan sold 7,250 shares of Lockheed Martin stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total transaction of $2,346,390.00. Following the transaction, the senior vice president now directly owns 9,869 shares in the company, valued at $3,194,003.16. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in LMT. Charles Schwab Investment Advisory Inc. bought a new position in shares of Lockheed Martin during the second quarter worth $240,085,000. American Century Companies Inc. raised its holdings in shares of Lockheed Martin by 121.4% during the second quarter. American Century Companies Inc. now owns 1,275,669 shares of the aerospace company’s stock worth $376,871,000 after acquiring an additional 699,579 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Lockheed Martin by 32,852.9% during the first quarter. Summit Trail Advisors LLC now owns 483,748 shares of the aerospace company’s stock worth $484,000 after acquiring an additional 482,280 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Lockheed Martin by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,552,936 shares of the aerospace company’s stock worth $754,213,000 after acquiring an additional 292,851 shares during the period. Finally, Mainstay Capital Management LLC ADV raised its holdings in shares of Lockheed Martin by 25,999.4% during the second quarter. Mainstay Capital Management LLC ADV now owns 223,150 shares of the aerospace company’s stock worth $785,000 after acquiring an additional 222,295 shares during the period. 77.94% of the stock is currently owned by institutional investors.
Lockheed Martin Company Profile (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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