Insider Selling: Douglas Mccorkindale Sells 2,314 Shares of Lockheed Martin Corp. Stock (LMT)
Lockheed Martin Corp. (NYSE:LMT) Director Douglas Mccorkindale sold 2,314 shares of the stock on the open market in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $134.10, for a total transaction of $310,307.40. Following the completion of the sale, the director now directly owns 2,172 shares of the company’s stock, valued at approximately $291,265. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.28% during mid-day trading on Thursday, hitting $133.34. The stock had a trading volume of 1,519,199 shares. Lockheed Martin Corp. has a one year low of $85.88 and a one year high of $134.96. The stock’s 50-day moving average is $128.0 and its 200-day moving average is $115.4. The company has a market cap of $42.402 billion and a price-to-earnings ratio of 14.27.
Lockheed Martin Corp. (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $2.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.26 by $0.31. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Analysts expect that Lockheed Martin Corp. will post $9.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Lockheed Martin Corp.’s previous quarterly dividend of $1.15.
LMT has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin Corp. from $111.00 to $116.00 in a research note to investors on Wednesday, October 23rd. They now have a “neutral” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Lockheed Martin Corp. from $120.00 to $130.00 in a research note to investors on Wednesday, October 23rd. They now have a “market perform” rating on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Lockheed Martin Corp. from $141.00 to $159.00 in a research note to investors on Wednesday, October 23rd. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Lockheed Martin Corp. presently has a consensus rating of “Hold” and an average price target of $127.21.
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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