Traders Sell Lockheed Martin (LMT) on Strength on Insider Selling

Traders sold shares of Lockheed Martin Corporation (NYSE:LMT) on strength during trading on Thursday following insider selling activity. $54.18 million flowed into the stock on the tick-up and $110.73 million flowed out of the stock on the tick-down, for a money net flow of $56.55 million out of the stock. Of all companies tracked, Lockheed Martin had the 22nd highest net out-flow for the day. Lockheed Martin traded up $2.45 for the day and closed at $314.42Specifically, insider Dale P. Bennett sold 2,000 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $313.75, for a total value of $627,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel F. Akerson purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was bought at an average cost of $312.02 per share, for a total transaction of $780,050.00. Following the acquisition, the director now directly owns 7,432 shares in the company, valued at $2,318,932.64. The disclosure for this purchase can be found here. 0.39% of the stock is owned by corporate insiders.

A number of brokerages have recently commented on LMT. BidaskClub raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Cowen reissued a “hold” rating and issued a $310.00 price target (up previously from $295.00) on shares of Lockheed Martin in a report on Thursday, September 14th. Vetr lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating and set a $349.96 price target on the stock. in a report on Monday, November 20th. Royal Bank Of Canada set a $289.00 price target on shares of Lockheed Martin and gave the stock a “hold” rating in a report on Friday, August 25th. Finally, Bank of America set a $360.00 price target on shares of Lockheed Martin and gave the stock a “buy” rating in a report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $321.90.

The company has a debt-to-equity ratio of 6.56, a quick ratio of 0.95 and a current ratio of 1.32. The company has a market cap of $90,210.00, a price-to-earnings ratio of 24.38, a P/E/G ratio of 2.96 and a beta of 0.58.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 24th. The aerospace company reported $3.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.26 by ($0.02). Lockheed Martin had a net margin of 7.31% and a return on equity of 221.41%. The business had revenue of $12.17 billion for the quarter, compared to the consensus estimate of $12.83 billion. During the same period in the prior year, the business posted $3.61 EPS. Lockheed Martin’s revenue for the quarter was up 5.4% on a year-over-year basis. equities analysts forecast that Lockheed Martin Corporation will post 13.12 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Saturday, September 30th. This represents a $8.00 annualized dividend and a yield of 2.54%. This is a boost from Lockheed Martin’s previous quarterly dividend of $1.82. Lockheed Martin’s dividend payout ratio is presently 64.88%.

Lockheed Martin announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the aerospace company to buy up to 2.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

An institutional investor recently bought a new position in Lockheed Martin stock. Buckingham Capital Management Inc. purchased a new stake in shares of Lockheed Martin Corporation (NYSE:LMT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. 78.94% of the stock is currently owned by hedge funds and other institutional investors.

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Lockheed Martin 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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