Stock Traders Buy High Volume of Lockheed Martin Call Options (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) saw unusually large options trading activity on Monday. Traders purchased 11,085 call options on the stock. This represents an increase of approximately 37% compared to the average volume of 8,089 call options.

Lockheed Martin Price Performance

Shares of LMT stock traded up $5.17 during trading hours on Monday, reaching $556.75. 793,739 shares of the company were exchanged, compared to its average volume of 1,091,993. Lockheed Martin has a fifty-two week low of $393.77 and a fifty-two week high of $562.60. The stock’s fifty day moving average is $485.46 and its two-hundred day moving average is $460.23. The company has a market cap of $133.59 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 4.40 and a beta of 0.46. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (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 company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the business earned $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.26%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently bought and sold shares of LMT. Wulff Hansen & CO. lifted its holdings in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares during the period. Van ECK Associates Corp raised its holdings in Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the period. Franklin Resources Inc. raised its holdings in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after purchasing an additional 336,588 shares during the period. Confluence Investment Management LLC acquired a new stake in Lockheed Martin in the first quarter worth $151,402,000. Finally, Corient Private Wealth LLC raised its holdings in Lockheed Martin by 91.8% in the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after purchasing an additional 274,680 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the topic of a number of analyst reports. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Bank of America raised shares of Lockheed Martin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $465.00 to $635.00 in a research note on Wednesday, July 31st. The Goldman Sachs Group decreased their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $541.85.

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