Investors purchased shares of Lockheed Martin Co. (NYSE:LMT) on weakness during trading hours on Tuesday. $155.52 million flowed into the stock on the tick-up and $105.13 million flowed out of the stock on the tick-down, for a money net flow of $50.39 million into the stock. Of all companies tracked, Lockheed Martin had the 33rd highest net in-flow for the day. Lockheed Martin traded down ($0.53) for the day and closed at $358.17
Several research analysts have issued reports on LMT shares. Royal Bank of Canada set a $348.00 price objective on shares of Lockheed Martin and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Cowen reaffirmed a “hold” rating and issued a $370.00 target price on shares of Lockheed Martin in a report on Tuesday, January 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $388.00 target price (up previously from $382.00) on shares of Lockheed Martin in a report on Friday. Buckingham Research lifted their target price on shares of Lockheed Martin from $348.00 to $403.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Robert W. Baird lifted their target price on shares of Lockheed Martin from $337.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $375.40.
The firm has a market capitalization of $102,280.00, a price-to-earnings ratio of 27.36, a P/E/G ratio of 3.16 and a beta of 0.73. The company has a debt-to-equity ratio of -22.19, a current ratio of 1.38 and a quick ratio of 1.03.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Thursday, March 1st will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Wednesday, February 28th. Lockheed Martin’s dividend payout ratio is currently 61.12%.
In related news, insider Richard F. Ambrose sold 7,517 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $357.89, for a total transaction of $2,690,259.13. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Marillyn A. Hewson sold 19,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $346.74, for a total transaction of $6,588,060.00. Following the sale, the chairman now directly owns 80,478 shares in the company, valued at approximately $27,904,941.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,517 shares of company stock worth $9,905,819. 0.39% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Buckingham Capital Management Inc. purchased a new stake in Lockheed Martin during the third quarter worth about $208,000. D.B. Root & Company LLC purchased a new stake in Lockheed Martin during the fourth quarter worth about $971,000. Certified Advisory Corp acquired a new position in Lockheed Martin during the fourth quarter worth about $1,362,000. Fairfield Bush & CO. raised its position in Lockheed Martin by 34.5% during the fourth quarter. Fairfield Bush & CO. now owns 4,480 shares of the aerospace company’s stock worth $1,438,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Elkfork Partners LLC acquired a new position in Lockheed Martin during the fourth quarter worth about $2,113,000. 78.71% of the stock is currently owned by hedge funds and other institutional investors.
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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