Investors Buy Lockheed Martin (LMT) on Weakness

Investors bought shares of Lockheed Martin Co. (NYSE:LMT) on weakness during trading on Tuesday. $119.33 million flowed into the stock on the tick-up and $78.56 million flowed out of the stock on the tick-down, for a money net flow of $40.77 million into the stock. Of all equities tracked, Lockheed Martin had the 10th highest net in-flow for the day. Lockheed Martin traded down ($2.51) for the day and closed at $318.54

LMT has been the subject of several research reports. Credit Suisse Group reissued a “neutral” rating and issued a $308.00 price target (up previously from $300.00) on shares of Lockheed Martin in a research report on Wednesday, October 25th. Stifel Nicolaus lifted their price objective on shares of Lockheed Martin from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Cowen reaffirmed a “hold” rating and set a $320.00 price objective on shares of Lockheed Martin in a report on Wednesday, October 25th. Vetr raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $326.32 price objective on the stock in a report on Tuesday, September 12th. Finally, Zacks Investment Research downgraded shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Lockheed Martin presently has an average rating of “Buy” and a consensus target price of $324.82.

The firm has a market capitalization of $93,230.00, a P/E ratio of 26.37, a PEG ratio of 2.98 and a beta of 0.58. The company has a debt-to-equity ratio of 6.56, a quick ratio of 0.95 and a current ratio of 1.32.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($0.02). Lockheed Martin had a net margin of 7.31% and a return on equity of 221.41%. The firm had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $12.83 billion. During the same quarter in the prior year, the firm posted $3.61 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. analysts expect that Lockheed Martin Co. will post 13.11 earnings per share for the current fiscal year.

Lockheed Martin announced that its Board of Directors has initiated a share buyback plan on Thursday, September 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

In related news, Director Daniel F. Akerson bought 2,500 shares of Lockheed Martin stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $312.02 per share, with a total value of $780,050.00. Following the acquisition, the director now directly owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dale P. Bennett sold 2,000 shares of Lockheed Martin stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $313.75, for a total value of $627,500.00. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. bought a new position in Lockheed Martin Co. (NYSE:LMT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. 78.81% of the stock is owned by institutional investors.

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About Lockheed Martin

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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