Short Interest in Lockheed Martin Co. (NYSE:LMT) Expands By 15.8%

Lockheed Martin Co. (NYSE:LMT) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,338,500 shares, a growth of 15.8% from the June 30th total of 2,019,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 1.9 days. Currently, 0.8% of the shares of the company are sold short.

Several research firms have recently commented on LMT. UBS Group lifted their price objective on shares of Lockheed Martin from $385.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Bank of America reiterated a “buy” rating and set a $400.00 price objective (up from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $360.00 to $395.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on shares of Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Finally, DZ Bank reiterated a “hold” rating on shares of Lockheed Martin in a research note on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $367.86.

In other news, SVP Maryanne Lavan sold 1,003 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $365.50, for a total transaction of $366,596.50. Following the completion of the sale, the senior vice president now directly owns 1,478 shares in the company, valued at $540,209. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Marillyn A. Hewson sold 19,500 shares of Lockheed Martin stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $369.14, for a total transaction of $7,198,230.00. Following the sale, the chairman now owns 46,534 shares of the company’s stock, valued at $17,177,560.76. The disclosure for this sale can be found here. Insiders have sold 22,503 shares of company stock valued at $8,292,527 over the last quarter. Insiders own 0.35% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Lockheed Martin by 0.5% in the second quarter. Vanguard Group Inc. now owns 21,642,359 shares of the aerospace company’s stock valued at $7,867,863,000 after purchasing an additional 111,239 shares during the period. Geode Capital Management LLC grew its position in shares of Lockheed Martin by 25.3% in the fourth quarter. Geode Capital Management LLC now owns 3,422,800 shares of the aerospace company’s stock valued at $894,874,000 after purchasing an additional 691,751 shares during the period. Northern Trust Corp grew its position in shares of Lockheed Martin by 1.3% in the second quarter. Northern Trust Corp now owns 3,153,040 shares of the aerospace company’s stock valued at $1,146,256,000 after purchasing an additional 41,269 shares during the period. Invesco Ltd. grew its position in shares of Lockheed Martin by 360.8% in the second quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock valued at $950,739,000 after purchasing an additional 2,047,707 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Lockheed Martin by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,981,732 shares of the aerospace company’s stock valued at $720,440,000 after purchasing an additional 9,767 shares during the period. 78.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Lockheed Martin stock traded down $7.68 during trading on Wednesday, hitting $369.54. 690,645 shares of the company’s stock were exchanged, compared to its average volume of 1,221,956. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 4.36. The firm’s 50-day simple moving average is $366.41. Lockheed Martin has a 52-week low of $241.18 and a 52-week high of $381.51. The company has a market cap of $106.57 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 2.50 and a beta of 0.97.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $5.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.74 by $0.26. Lockheed Martin had a net margin of 10.18% and a return on equity of 297.37%. The firm had revenue of $14.42 billion during the quarter, compared to analysts’ expectations of $14.17 billion. During the same quarter last year, the company posted $4.31 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Lockheed Martin will post 21.23 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $2.20 per share. The ex-dividend date is Friday, August 30th. This represents a $8.80 annualized dividend and a dividend yield of 2.38%. Lockheed Martin’s dividend payout ratio (DPR) is presently 49.30%.

Lockheed Martin Company Profile

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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