Lockheed Martin Co. (LMT) VP Bruce L. Tanner Sells 11,203 Shares

Share on StockTwits

Lockheed Martin Co. (NYSE:LMT) VP Bruce L. Tanner sold 11,203 shares of Lockheed Martin stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the sale, the vice president now owns 79,770 shares of the company’s stock, valued at $24,608,247.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

LMT traded up $4.56 during trading on Friday, hitting $313.12. 1,294,279 shares of the company’s stock were exchanged, compared to its average volume of 1,737,972. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 13.46. Lockheed Martin Co. has a 1 year low of $283.21 and a 1 year high of $363.00. The company has a market cap of $88.12 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.19 and a beta of 0.89.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The company had revenue of $14.32 billion during the quarter, compared to the consensus estimate of $13.10 billion. During the same period in the previous year, the firm earned $3.24 earnings per share. Lockheed Martin’s revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 17.68 earnings per share for the current year.

Lockheed Martin announced that its board has initiated a stock repurchase program on Thursday, September 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the aerospace company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be paid a dividend of $2.20 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.00. This represents a $8.80 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Friday, November 30th. Lockheed Martin’s payout ratio is currently 60.02%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Lockheed Martin by 0.8% during the third quarter. BlackRock Inc. now owns 17,385,055 shares of the aerospace company’s stock worth $6,014,535,000 after buying an additional 136,348 shares during the period. Morgan Stanley lifted its position in shares of Lockheed Martin by 4.4% during the second quarter. Morgan Stanley now owns 3,481,336 shares of the aerospace company’s stock worth $1,028,490,000 after purchasing an additional 147,745 shares in the last quarter. FMR LLC lifted its position in shares of Lockheed Martin by 13.7% during the third quarter. FMR LLC now owns 2,656,966 shares of the aerospace company’s stock worth $919,205,000 after purchasing an additional 319,488 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Lockheed Martin by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,552,936 shares of the aerospace company’s stock worth $754,213,000 after purchasing an additional 292,851 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Lockheed Martin by 2.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,598,709 shares of the aerospace company’s stock worth $472,307,000 after purchasing an additional 42,089 shares in the last quarter. Institutional investors own 78.02% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Lockheed Martin from $352.00 to $377.00 and gave the stock an “overweight” rating in a report on Wednesday, July 25th. Stifel Nicolaus lowered their price target on shares of Lockheed Martin from $400.00 to $370.00 and set a “buy” rating for the company in a report on Wednesday, July 25th. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Cowen upgraded shares of Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 price target for the company in a report on Wednesday, July 25th. Finally, Sanford C. Bernstein lifted their price target on shares of Lockheed Martin from $349.00 to $356.00 and gave the stock a “market perform” rating in a report on Wednesday, July 25th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $376.49.

WARNING: “Lockheed Martin Co. (LMT) VP Bruce L. Tanner Sells 11,203 Shares” was originally posted by Week Herald and is owned by of Week Herald. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://weekherald.com/2018/11/10/lockheed-martin-co-lmt-vp-bruce-l-tanner-sells-11203-shares.html.

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.

Featured Article: Reverse Stock Split

Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply