Lockheed Martin Target of Unusually High Options Trading (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) was the recipient of unusually large options trading on Tuesday. Stock traders bought 11,494 call options on the company. This represents an increase of approximately 50% compared to the typical daily volume of 7,688 call options.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Bank of America reissued a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Susquehanna raised their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $553.43.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Lockheed Martin

A number of hedge funds and other institutional investors have recently modified their holdings of LMT. Aveo Capital Partners LLC lifted its stake in shares of Lockheed Martin by 4.1% during the fourth quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock valued at $300,000 after acquiring an additional 26 shares during the period. Evoke Wealth LLC boosted its stake in shares of Lockheed Martin by 28.8% in the 4th quarter. Evoke Wealth LLC now owns 670 shares of the aerospace company’s stock valued at $304,000 after purchasing an additional 150 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Lockheed Martin by 10.8% during the 4th quarter. Jones Financial Companies Lllp now owns 20,442 shares of the aerospace company’s stock worth $9,265,000 after buying an additional 1,997 shares during the period. NEOS Investment Management LLC raised its stake in shares of Lockheed Martin by 39.5% during the fourth quarter. NEOS Investment Management LLC now owns 3,130 shares of the aerospace company’s stock worth $1,419,000 after buying an additional 886 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in Lockheed Martin by 18.0% in the fourth quarter. Rafferty Asset Management LLC now owns 42,051 shares of the aerospace company’s stock valued at $19,059,000 after buying an additional 6,415 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $603.31 on Thursday. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $611.49. The firm has a market cap of $144.76 billion, a P/E ratio of 22.08, a P/E/G ratio of 4.66 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The business’s fifty day moving average is $562.41 and its two-hundred day moving average is $497.26.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the firm earned $6.73 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that Lockheed Martin will post 26.65 earnings per share for the current fiscal year.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.