Insider Selling: Sondra L. Barbour Unloads 50,000 Shares of Lockheed Martin Stock (LMT)
Lockheed Martin (NYSE:LMT) EVP Sondra L. Barbour sold 50,000 shares of Lockheed Martin stock on the open market in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $174.80, for a total transaction of $8,740,000.00. Following the transaction, the executive vice president now directly owns 5,796 shares of the company’s stock, valued at approximately $1,013,141. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus 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 1-year low of $121.52 and a 1-year high of $175.47. The stock has a 50-day moving average of $165.3 and a 200-day moving average of $162.7. The company has a market cap of $55.157 billion and a P/E ratio of 17.91.
Lockheed Martin (NYSE:LMT) last released its earnings data on Tuesday, July 22nd. The company reported $2.76 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $2.64 earnings per share. The company’s quarterly revenue 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.
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