Traders Buy Lockheed Martin (LMT) on Weakness

Investors bought shares of Lockheed Martin Co. (NYSE:LMT) on weakness during trading hours on Tuesday. $108.77 million flowed into the stock on the tick-up and $67.87 million flowed out of the stock on the tick-down, for a money net flow of $40.90 million into the stock. Of all equities tracked, Lockheed Martin had the 12th highest net in-flow for the day. Lockheed Martin traded down ($0.30) for the day and closed at $328.70

Several research firms recently issued reports on LMT. Credit Suisse Group reissued a “neutral” rating on shares of Lockheed Martin in a research report on Friday. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target on the stock in a research report on Friday. Wells Fargo & Co lowered Lockheed Martin from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 16th. Vetr lowered Lockheed Martin from a “buy” rating to a “hold” rating and set a $332.40 price target on the stock. in a research report on Thursday, January 4th. Finally, Royal Bank of Canada set a $314.00 price target on Lockheed Martin and gave the company a “hold” rating in a research report on Wednesday, November 15th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $330.42.

The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 6.56. The company has a market cap of $94,250.00, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.26 and a beta of 0.58.

Lockheed Martin (NYSE:LMT) last issued its 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 during the quarter, compared to analyst estimates of $12.83 billion. During the same period in the prior year, the business earned $3.61 earnings per share. Lockheed Martin’s quarterly revenue was up 5.4% on a year-over-year basis. equities research analysts expect that Lockheed Martin Co. will post 13.11 EPS for the current fiscal year.

Lockheed Martin announced that its Board of Directors has authorized a stock buyback program on Thursday, September 28th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Daniel F. Akerson bought 2,500 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were purchased at an average cost of $312.02 per share, with a total value of $780,050.00. Following the completion of the transaction, the director now directly owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dale P. Bennett sold 2,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $313.75, for a total value of $627,500.00. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

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 Co. (NYSE:LMT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. Hedge funds and other institutional investors own 78.84% of the company’s stock.

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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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