Lockheed Martin Co. (NYSE:LMT – Get Rating) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,650,000 shares, a decline of 29.1% from the March 15th total of 5,150,000 shares. Based on an average daily volume of 2,550,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.4% of the shares of the stock are short sold.
In related news, COO John Frank A. St sold 8,063 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $435.91, for a total value of $3,514,742.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maryanne Lavan sold 5,832 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $426.27, for a total transaction of $2,486,006.64. The disclosure for this sale can be found here. Insiders sold a total of 17,250 shares of company stock valued at $7,464,599 in the last three months. 0.17% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Willis Investment Counsel increased its stake in Lockheed Martin by 4.5% during the 3rd quarter. Willis Investment Counsel now owns 117,068 shares of the aerospace company’s stock worth $40,400,000 after buying an additional 5,085 shares during the period. Bogart Wealth LLC grew its holdings in Lockheed Martin by 8.7% during the 4th quarter. Bogart Wealth LLC now owns 17,282 shares of the aerospace company’s stock worth $6,142,000 after acquiring an additional 1,387 shares in the last quarter. Conning Inc. grew its holdings in Lockheed Martin by 5.3% during the 3rd quarter. Conning Inc. now owns 117,212 shares of the aerospace company’s stock worth $40,416,000 after acquiring an additional 5,863 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services grew its holdings in Lockheed Martin by 14.1% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 4,216 shares of the aerospace company’s stock worth $1,498,000 after acquiring an additional 522 shares in the last quarter. Finally, Intelligence Driven Advisers LLC acquired a new position in Lockheed Martin during the 4th quarter worth $412,000. 74.72% of the stock is currently owned by hedge funds and other institutional investors.
Lockheed Martin (NYSE:LMT – Get Rating) last released its quarterly earnings results on Tuesday, January 25th. The aerospace company reported $7.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.23 by $0.01. Lockheed Martin had a net margin of 9.42% and a return on equity of 91.52%. The firm had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.66 billion. During the same quarter in the previous year, the firm posted $6.38 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, research analysts anticipate that Lockheed Martin will post 26.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Tuesday, March 1st were paid a dividend of $2.80 per share. This represents a $11.20 annualized dividend and a yield of 2.39%. The ex-dividend date was Monday, February 28th. Lockheed Martin’s dividend payout ratio (DPR) is 49.21%.
A number of research firms have weighed in on LMT. Robert W. Baird increased their price target on shares of Lockheed Martin from $376.00 to $425.00 in a research note on Wednesday, January 26th. Morgan Stanley increased their price target on shares of Lockheed Martin from $450.00 to $521.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 2nd. Sanford C. Bernstein increased their price target on shares of Lockheed Martin from $387.00 to $401.00 in a research note on Wednesday, January 26th. UBS Group increased their price target on shares of Lockheed Martin from $410.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, January 26th. Finally, Susquehanna Bancshares increased their price target on shares of Lockheed Martin from $400.00 to $445.00 and gave the stock a “positive” rating in a research note on Wednesday, January 26th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and a consensus target price of $427.09.
About Lockheed Martin (Get Rating)
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, Rotary and Mission Systems, and Space.
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