Lockheed Martin Corporation (LMT) reported quarterly earnings results on Tuesday, Jul-19-2016. The company said it had a profit of $3.32 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.39. Analysts had a consensus of $2.93. The company posted revenue of $12914.00 million in the period, compared to analysts expectations of $12576.52 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS.
Many Wall Street Analysts have commented on Lockheed Martin Corporation. Lockheed Martin Corporation was Downgraded by Berenberg to ” Hold” on May 31, 2016. RBC Capital Mkts Downgraded Lockheed Martin Corporation on May 19, 2016 to ” Sector Perform”, Price Target of the shares are set at $244.Lockheed Martin Corporation was Downgraded by Stifel to ” Hold” on May 13, 2016.
Lockheed Martin Corporation closed down -0.69 points or -0.27% at $256.29 with 23,45,812 shares getting traded on Monday. Post opening the session at $257.78, the shares hit an intraday low of $255.3 and an intraday high of $258.29 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Investors should note that on Jun 23, 2016, Lockheed Martin Corporation announced a cash dividend of $1.6500. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 23, 2016.
In a different news, on Apr 29, 2016, Maryanne Lavan (SVP & General Counsel) sold 21,720 shares at $233.17 per share price. According to the SEC, on Apr 29, 2016, Marillyn A Hewson (Chairman, Pres. & CEO) sold 25,000 shares at $233.38 per share price. On Mar 4, 2016, Sondra L Barbour (Executive Vice President) sold 19,587 shares at $216.80 per share price, according to the Form-4 filing with the securities and exchange commission.
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research design development manufacture integration and sustainment of advanced technology systems products and services. The Company operates in five segments: Aeronautics Information Systems & Global Solutions (IS&GS) Missiles and Fire Control (MFC) Mission Systems and Training (MST) and Space Systems. The Company provides a range of management engineering technical scientific logistics and information services. The Company’s areas of focus are in defense space intelligence homeland security and information technology including cyber security. It serves both the United States and international customers with products and services that have defense civil and commercial applications.