Lockheed Martin Co. (NYSE:LMT – Get Rating) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 5,150,000 shares, a growth of 55.1% from the February 28th total of 3,320,000 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 2,460,000 shares, the days-to-cover ratio is currently 2.1 days.
Several equities research analysts recently issued reports on LMT shares. Morgan Stanley boosted their price objective on Lockheed Martin from $450.00 to $521.00 and gave the company an “overweight” rating in a report on Wednesday, March 2nd. Susquehanna Bancshares upped their price target on Lockheed Martin from $400.00 to $445.00 and gave the stock a “positive” rating in a report on Wednesday, January 26th. Sanford C. Bernstein upped their price target on Lockheed Martin from $387.00 to $401.00 in a report on Wednesday, January 26th. Argus upped their price target on Lockheed Martin from $365.00 to $415.00 in a report on Thursday, January 27th. Finally, Robert W. Baird upped their price target on Lockheed Martin from $376.00 to $425.00 in a report on Wednesday, January 26th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus target price of $427.09.
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In other Lockheed Martin news, EVP Stephanie C. Hill sold 1,418 shares of Lockheed Martin stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $449.80, for a total value of $637,816.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO John Frank A. St sold 8,063 shares of Lockheed Martin stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 17,250 shares of company stock worth $7,464,599 in the last 90 days. Company insiders own 0.17% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of LMT. Western Pacific Wealth Management LP purchased a new stake in Lockheed Martin during the 4th quarter valued at approximately $25,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Lockheed Martin during the 4th quarter worth approximately $27,000. TAP Consulting LLC purchased a new position in shares of Lockheed Martin during the 4th quarter worth approximately $31,000. Capital Directions Investment Advisors LLC raised its stake in shares of Lockheed Martin by 104.0% during the 3rd quarter. Capital Directions Investment Advisors LLC now owns 102 shares of the aerospace company’s stock worth $35,000 after buying an additional 52 shares in the last quarter. Finally, Ten Capital Wealth Advisors LLC purchased a new position in Lockheed Martin in the 3rd quarter valued at approximately $35,000. 74.72% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE LMT traded down $10.35 during trading hours on Tuesday, reaching $434.63. The stock had a trading volume of 100,988 shares, compared to its average volume of 3,565,346. The firm has a market cap of $115.84 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.98 and a beta of 0.80. The company has a current ratio of 1.42, a quick ratio of 1.20 and a debt-to-equity ratio of 1.06. Lockheed Martin has a fifty-two week low of $324.23 and a fifty-two week high of $479.99. The firm has a 50-day moving average of $412.52 and a 200-day moving average of $370.77.
Lockheed Martin (NYSE:LMT – Get Rating) last announced its earnings results on Tuesday, January 25th. The aerospace company reported $7.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.23 by $0.01. The firm had revenue of $17.73 billion during the quarter, compared to analysts’ expectations of $17.66 billion. Lockheed Martin had a return on equity of 91.52% and a net margin of 9.42%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $6.38 EPS. On average, equities analysts predict that Lockheed Martin will post 26.77 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Tuesday, March 1st were given a $2.80 dividend. The ex-dividend date of this dividend was Monday, February 28th. This represents a $11.20 dividend on an annualized basis and a dividend yield of 2.58%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.21%.
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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