Insider Selling: Patrick Dewar Sells 5,000 Shares of Lockheed Martin Corp. Stock (LMT)
Lockheed Martin Corp. (NYSE:LMT) EVP Patrick Dewar sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $125.15, for a total value of $625,750.00. Following the completion of the transaction, the executive vice president now directly owns 9 shares of the company’s stock. The sale was disclosed in a filing with the SEC, which is available at this link.
LMT has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Lockheed Martin Corp. (NYSE:LMT) in a research note to investors on Thursday, September 5th. They now have a $130.00 price target on the stock. Separately, analysts at RBC Capital downgraded shares of Lockheed Martin Corp. (NYSE:LMT) from an “outperform” rating to a “sector perform” rating in a research note to investors on Thursday, September 5th. They now have a $126.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at UBS AG downgraded shares of Lockheed Martin Corp. (NYSE:LMT) from a “neutral” rating to a “sell” rating in a research note to investors on Friday, August 16th. They now have a $113.00 price target on the stock, up previously from $101.00.
One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $122.36.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.02% during mid-day trading on Thursday, hitting $126.54. 1,886,056 shares of the company’s stock traded hands. Lockheed Martin Corp. has a 1-year low of $85.88 and a 1-year high of $127.39. The stock has a 50-day moving average of $123.2 and a 200-day moving average of $106.. The company has a market cap of $40.366 billion and a P/E ratio of 14.20.
Lockheed Martin Corp. (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.44. The company had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.12 billion. During the same quarter in the previous year, the company posted $2.38 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts expect that Lockheed Martin Corp. will post $9.48 EPS for the current fiscal year.
Lockheed Martin Corporation, incorporated on August 29, 1994, is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products.
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