Insider Selling: Marillyn A. Hewson Sells 32,545 Shares of Lockheed Martin Corp. Stock (LMT)
Lockheed Martin Corp. (NYSE:LMT) CEO Marillyn A. Hewson unloaded 32,545 shares of the company’s stock on the open market in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $147.96, for a total value of $4,815,358.20. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Lockheed Martin Corp. (NYSE:LMT) traded down 0.63% during mid-day trading on Wednesday, hitting $147.35. 2,500,983 shares of the company’s stock traded hands. Lockheed Martin Corp. has a 52 week low of $85.88 and a 52 week high of $158.43. The stock has a 50-day moving average of $147.2 and a 200-day moving average of $132.6. The company has a market cap of $47.005 billion and a price-to-earnings ratio of 16.23.
Lockheed Martin Corp. (NYSE:LMT) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.34 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Analysts expect that Lockheed Martin Corp. will post $10.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of 1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, February 27th.
Several analysts have recently commented on the stock. Analysts at Credit Suisse raised their EPS on shares of Lockheed Martin Corp. in a research note to investors on Friday, January 24th. They now have a “neutral” rating and a $150.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Lockheed Martin Corp. from $143.00 to $156.00 in a research note to investors on Friday, January 24th. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin Corp. from $141.00 to $137.00 in a research note to investors on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $145.92.
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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