Lockheed Martin Corporation (LMT) Director Buys $780,050.00 in Stock
Lockheed Martin Corporation (NYSE:LMT) Director Daniel F. Akerson purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was bought at an average cost of $312.02 per share, for a total transaction of $780,050.00. Following the purchase, the director now directly owns 7,432 shares in the company, valued at approximately $2,318,932.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Lockheed Martin Corporation (LMT) traded up 0.04% during trading on Friday, reaching $308.00. The company’s stock had a trading volume of 998,712 shares. Lockheed Martin Corporation has a 52 week low of $236.21 and a 52 week high of $322.19. The firm has a market cap of $88.70 billion, a P/E ratio of 17.87 and a beta of 0.59. The stock’s 50 day moving average is $311.03 and its 200-day moving average is $291.08.
Lockheed Martin Corporation (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.02). The business had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $12.83 billion. Lockheed Martin Corporation had a return on equity of 221.41% and a net margin of 7.31%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.61 earnings per share. On average, equities research analysts forecast that Lockheed Martin Corporation will post $13.00 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $2.00 per share. The ex-dividend date is Saturday, September 30th. This is an increase from Lockheed Martin Corporation’s previous quarterly dividend of $1.82. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.60%. Lockheed Martin Corporation’s dividend payout ratio (DPR) is presently 58.57%.
Lockheed Martin Corporation declared that its board has initiated a share buyback program on Thursday, September 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
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LMT has been the topic of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $320.00 price target (up previously from $300.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. Argus reissued a “buy” rating and issued a $320.00 price target (up previously from $100.00) on shares of Lockheed Martin Corporation in a research note on Wednesday, July 19th. They noted that the move was a valuation call. Zacks Investment Research raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research note on Thursday, July 27th. BidaskClub raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, Vetr raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $326.32 price target on the stock in a research note on Tuesday, September 12th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Lockheed Martin Corporation has a consensus rating of “Buy” and a consensus price target of $319.75.
About Lockheed Martin Corporation
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
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