Actionable news
All posts from Actionable news
Actionable news in LMT: LOCKHEED MARTIN Corp,

Lockheed Martin: Don't Fret Over Tuesday's Drop


Lockheed Martin stock dropped by 3% on Tuesday on news of its Leidos Holdings offer.

The company still offers promising prospects as nothing else has changed.

LMT fundamentals are pristine, and the stock price drop could offer a good chance to make a quick gain as well.

In Tuesday's trading Lockheed Martin (NYSE:LMT) saw its stock price drop by more than 3% as the company announced that its spinoff of its IT division Leidos Holdings would end up making less than what the investors had expected.

LMT was trading near an all-time high by Monday, however after announcing the preliminary results of the Leidos Holdings exchange offer which showed that the company repurchased approximately 9.4 million shares through a Reverse Morris Trust, missing the target expectation of 10 million shares, the company stock dropped by $8.46 per share and closing at $256.77 per share.

A 3% drop for a company as stable as Lockheed Martin is enough to rattle some of the more ardent LMT shareholders, and given that many investors were expecting the Leidos Holding exchange to be more fruitful it is absolutely understandable why many investors would be disheartened by the aftermath of Tuesday's trading session.

However I urge...