Lockheed Martin Target of Unusually High Options Trading (LMT)

Lockheed Martin Co. (NYSE:LMT) saw unusually large options trading activity on Thursday. Traders acquired 20,973 call options on the stock. This represents an increase of 1,239% compared to the average volume of 1,566 call options.

In related news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total value of $3,456,013.47. Following the transaction, the vice president now directly owns 79,770 shares in the company, valued at $24,608,247.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Wealth Management LLC purchased a new stake in shares of Lockheed Martin during the second quarter valued at approximately $306,000. Dupont Capital Management Corp boosted its stake in shares of Lockheed Martin by 51.1% during the second quarter. Dupont Capital Management Corp now owns 10,944 shares of the aerospace company’s stock valued at $3,233,000 after purchasing an additional 3,703 shares during the period. Welch Group LLC boosted its stake in shares of Lockheed Martin by 0.4% during the second quarter. Welch Group LLC now owns 78,688 shares of the aerospace company’s stock valued at $23,247,000 after purchasing an additional 321 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Lockheed Martin by 7.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 124,057 shares of the aerospace company’s stock valued at $36,657,000 after purchasing an additional 9,076 shares during the period. Finally, Weatherly Asset Management L. P. boosted its stake in shares of Lockheed Martin by 2.7% during the second quarter. Weatherly Asset Management L. P. now owns 9,486 shares of the aerospace company’s stock valued at $2,802,000 after purchasing an additional 250 shares during the period. 77.97% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently weighed in on LMT shares. Zacks Investment Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $359.00 price objective on the stock in a research report on Monday, August 6th. UBS Group started coverage on shares of Lockheed Martin in a research report on Wednesday, August 15th. They issued a “buy” rating and a $400.00 price objective on the stock. Credit Suisse Group upped their price objective on shares of Lockheed Martin from $340.00 to $368.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 3rd. Morgan Stanley set a $386.00 price objective on shares of Lockheed Martin and gave the stock a “buy” rating in a research report on Thursday, October 11th. Finally, Goldman Sachs Group upgraded shares of Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and upped their price objective for the stock from $391.00 to $394.00 in a research report on Wednesday, October 24th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $375.44.

Shares of LMT opened at $302.42 on Friday. The company has a market capitalization of $85.31 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.82 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 13.46. Lockheed Martin has a 1 year low of $283.21 and a 1 year high of $363.00.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.31 by $0.83. The business had revenue of $14.32 billion during the quarter, compared to analyst estimates of $13.10 billion. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. Lockheed Martin’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.24 earnings per share. Sell-side analysts anticipate that Lockheed Martin will post 17.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 3rd will be paid a $2.20 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $8.80 annualized dividend and a yield of 2.91%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00. Lockheed Martin’s dividend payout ratio is currently 60.02%.

Lockheed Martin announced that its Board of Directors has initiated a stock buyback program on Thursday, September 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

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About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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