Investors Buy Shares of Lockheed Martin (LMT) on Weakness

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Investors bought shares of Lockheed Martin Co. (NYSE:LMT) on weakness during trading hours on Wednesday. $135.73 million flowed into the stock on the tick-up and $99.69 million flowed out of the stock on the tick-down, for a money net flow of $36.04 million into the stock. Of all equities tracked, Lockheed Martin had the 27th highest net in-flow for the day. Lockheed Martin traded down ($4.30) for the day and closed at $294.78

A number of analysts have weighed in on LMT shares. Barclays started coverage on shares of Lockheed Martin in a research note on Thursday, March 29th. They set an “equal weight” rating and a $369.00 target price on the stock. Morgan Stanley decreased their target price on shares of Lockheed Martin from $388.00 to $373.00 and set an “overweight” rating on the stock in a research note on Thursday, April 12th. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $369.00 price objective on the stock in a research note on Friday, April 27th. Cowen reissued a “hold” rating and issued a $370.00 price objective on shares of Lockheed Martin in a research note on Tuesday, April 24th. Finally, Credit Suisse Group reduced their price objective on shares of Lockheed Martin from $380.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 22nd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $371.26.

The firm has a market cap of $85.31 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71. The company has a current ratio of 1.27, a quick ratio of 1.05 and a debt-to-equity ratio of -121.38.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 24th. The aerospace company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.35 by $0.67. The business had revenue of $11.64 billion for the quarter, compared to analyst estimates of $11.25 billion. Lockheed Martin had a net margin of 4.64% and a return on equity of 608.95%. Lockheed Martin’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.00 earnings per share. equities research analysts forecast that Lockheed Martin Co. will post 16.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 22nd. Investors of record on Friday, June 1st were issued a $2.00 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $8.00 annualized dividend and a yield of 2.71%. Lockheed Martin’s payout ratio is 60.02%.

Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in Lockheed Martin by 22.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 44,061 shares of the aerospace company’s stock valued at $14,146,000 after buying an additional 7,950 shares during the period. Hyman Charles D raised its holdings in shares of Lockheed Martin by 2.6% during the first quarter. Hyman Charles D now owns 30,400 shares of the aerospace company’s stock valued at $10,273,000 after purchasing an additional 770 shares during the period. Elkfork Partners LLC acquired a new position in shares of Lockheed Martin during the fourth quarter valued at about $2,113,000. Fairfield Bush & CO. raised its holdings in shares of Lockheed Martin by 34.5% during the fourth quarter. Fairfield Bush & CO. now owns 4,480 shares of the aerospace company’s stock valued at $1,438,000 after purchasing an additional 1,150 shares during the period. Finally, Wealthfront Inc. raised its holdings in shares of Lockheed Martin by 1.9% during the first quarter. Wealthfront Inc. now owns 14,551 shares of the aerospace company’s stock valued at $4,917,000 after purchasing an additional 266 shares during the period. Institutional investors and hedge funds own 77.89% 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 (MFC), Rotary and Mission Systems (RMS), and Space.

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