Lockheed Martin Co. (NYSE:LMT) Short Interest Update

Lockheed Martin Co. (NYSE:LMT) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 1,698,200 shares, a decrease of 23.4% from the April 30th total of 2,215,800 shares. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 1.3 days. Approximately 0.6% of the shares of the stock are sold short.

Several research firms have issued reports on LMT. Morgan Stanley upped their price target on Lockheed Martin from $324.00 to $356.00 and gave the company an “equal weight” rating in a report on Friday, June 14th. Cowen reaffirmed a “buy” rating and issued a $360.00 price target on shares of Lockheed Martin in a report on Wednesday, April 24th. Barclays upped their price target on Lockheed Martin from $340.00 to $370.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 price target on the stock in a report on Thursday, April 25th. Finally, UBS Group upped their price target on Lockheed Martin from $365.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lockheed Martin currently has an average rating of “Buy” and a consensus target price of $357.13.

NYSE:LMT traded up $2.21 during trading hours on Wednesday, hitting $355.73. 816,400 shares of the stock traded hands, compared to its average volume of 1,246,413. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 5.00. Lockheed Martin has a fifty-two week low of $241.18 and a fifty-two week high of $358.63. The company has a market cap of $98.52 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.96.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $1.70. Lockheed Martin had a net margin of 9.91% and a return on equity of 415.92%. The company had revenue of $14.34 billion for the quarter, compared to the consensus estimate of $12.48 billion. During the same period in the previous year, the business earned $4.02 EPS. The company’s revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that Lockheed Martin will post 20.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, May 31st. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.

In other Lockheed Martin news, Director David B. Burritt sold 2,100 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $330.21, for a total value of $693,441.00. Following the transaction, the director now owns 6,030 shares of the company’s stock, valued at $1,991,166.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

A number of large investors have recently made changes to their positions in LMT. WealthPLAN Partners LLC increased its stake in shares of Lockheed Martin by 4.3% in the first quarter. WealthPLAN Partners LLC now owns 2,689 shares of the aerospace company’s stock worth $899,000 after acquiring an additional 112 shares during the last quarter. Laurel Wealth Advisors Inc. increased its stake in shares of Lockheed Martin by 51.4% in the first quarter. Laurel Wealth Advisors Inc. now owns 3,080 shares of the aerospace company’s stock worth $925,000 after acquiring an additional 1,045 shares during the last quarter. B. Riley Wealth Management Inc. increased its stake in shares of Lockheed Martin by 2.5% in the first quarter. B. Riley Wealth Management Inc. now owns 3,601 shares of the aerospace company’s stock worth $1,081,000 after acquiring an additional 87 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of Lockheed Martin in the first quarter worth $234,000. Finally, First Dallas Securities Inc. acquired a new position in shares of Lockheed Martin in the first quarter worth $203,000. 77.97% of the stock is currently owned by institutional investors.

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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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