Insider Selling: Kenneth R. Possenriede Sells 3,000 Shares of Lockheed Martin Stock (LMT)
Lockheed Martin (NYSE:LMT) VP Kenneth R. Possenriede unloaded 3,000 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $174.69, for a total transaction of $524,070.00. Following the completion of the sale, the vice president now directly owns 451 shares of the company’s stock, valued at approximately $78,785. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on LMT shares. Analysts at Barclays raised their price target on shares of Lockheed Martin from $174.00 to $179.00 in a research note on Monday, August 11th. They now have an “equal weight” rating on the stock. Separately, analysts at Zacks upgraded shares of Lockheed Martin from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 31st. They now have a $204.00 price target on the stock. Finally, analysts at Sterne Agee raised their price target on shares of Lockheed Martin from $8.00 to $164.00 in a research note on Wednesday, July 23rd. They now have a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $175.46.
Shares of Lockheed Martin (NYSE:LMT) traded down 0.12% during mid-day trading on Thursday, hitting $175.10. 1,089,330 shares of the company’s stock traded hands. Lockheed Martin has a one year low of $121.52 and a one year high of $175.47. The stock’s 50-day moving average is $165.3 and its 200-day moving average is $162.7. The company has a market cap of $55.157 billion and a price-to-earnings ratio of 17.91.
Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.10. The company had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $11.14 billion. During the same quarter in the previous year, the company posted $2.64 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that Lockheed Martin will post $11.25 earnings per share for the current fiscal year.
Lockheed Martin Corporation is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products.