Lockheed Martin Co. (NYSE:LMT – Get Rating) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 2,240,000 shares, a drop of 16.1% from the August 15th total of 2,670,000 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 1.9 days. Currently, 0.9% of the shares of the stock are sold short.
Analysts Set New Price Targets
Several research firms recently commented on LMT. Royal Bank of Canada began coverage on shares of Lockheed Martin in a report on Monday, August 29th. They set a “sector perform” rating and a $460.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating for the company in a report on Wednesday, July 20th. Finally, Morgan Stanley decreased their price target on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $448.92.
Lockheed Martin Stock Performance
Shares of NYSE:LMT traded up $0.70 during trading on Friday, reaching $414.29. The stock had a trading volume of 2,023,341 shares, compared to its average volume of 985,633. Lockheed Martin has a 52 week low of $324.23 and a 52 week high of $479.99. The firm has a market capitalization of $109.85 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 2.84 and a beta of 0.66. The company has a quick ratio of 1.06, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $418.99 and a two-hundred day simple moving average of $432.12.
Lockheed Martin (NYSE:LMT – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The aerospace company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The firm had revenue of $15.45 billion during the quarter, compared to the consensus estimate of $16.02 billion. During the same period in the prior year, the business earned $7.13 EPS. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin will post 26.8 earnings per share for the current fiscal year.
Lockheed Martin Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Thursday, September 1st will be given a dividend of $2.80 per share. This represents a $11.20 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Wednesday, August 31st. Lockheed Martin’s dividend payout ratio (DPR) is currently 64.81%.
Insider Activity
In other Lockheed Martin news, EVP Gregory M. Ulmer sold 6,929 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John Donovan bought 632 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was bought at an average cost of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the acquisition, the director now directly owns 1,200 shares in the company, valued at approximately $475,392. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gregory M. Ulmer sold 6,929 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total transaction of $2,936,995.23. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Hedge Funds Weigh In On Lockheed Martin
A number of institutional investors and hedge funds have recently bought and sold shares of LMT. Western Pacific Wealth Management LP bought a new position in Lockheed Martin during the fourth quarter worth $25,000. Better Money Decisions LLC bought a new position in Lockheed Martin during the second quarter worth $33,000. Schubert & Co boosted its stake in Lockheed Martin by 53.8% during the second quarter. Schubert & Co now owns 80 shares of the aerospace company’s stock worth $34,000 after buying an additional 28 shares in the last quarter. IMA Wealth Inc. boosted its stake in Lockheed Martin by 41.8% during the second quarter. IMA Wealth Inc. now owns 78 shares of the aerospace company’s stock worth $34,000 after buying an additional 23 shares in the last quarter. Finally, PARK CIRCLE Co acquired a new stake in Lockheed Martin during the fourth quarter worth $36,000. Institutional investors own 75.50% of the company’s stock.
Lockheed Martin Company Profile
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, Rotary and Mission Systems, and Space.