This Member of the Armed Services Committee Is Buying LMT Shares
Clifford Scott Franklin, the U.S. representative for Florida's 15th congressional district, disclosed yesterday he made over 20 trades in September, mostly on the buy side.
Looking at volumes, Congressman Franklin invested between $100,000 - $250,000 in the Lord Abbett Ultra Short Bond Fund (LUBFX: US) on one occasion, followed by two trades worth between $15,000 - $50,000 and $1,000 - $15,000, respectively. The fund invests in a broad range of investment grade ultra-short fixed income and money market securities.
Moreover, the Congressman sold the Fidelity Advisor® Total Bond Fund Class Z (FBKWX: US) via three trades involving the same sizes as for LUBFX. FBKWX is a mutual fund that invests at least 80% of assets in debt securities of all types and repurchase agreements for those securities.
As far as individual stocks are concerned, Congressman Franklin’s biggest trade in September was investing from $50,000 to $100,000 in Lockheed Martin (LMT: US). This trade may raise some eyebrows given that Mr. Franklin is a member of the House Armed Services Committee.
Elsewhere, the Congressman also made a series of investments that fall in the $15,000 - $50,000 range. These include buying shares of Cisco Systems (CSCO: US), Home Depot (HD: US), Medtronic (MDT: US), Microsoft (MSFT: US), Starbucks (SBUX: US), and Walmart (WMT: US). Along with these, the Floridian Congress member also made a series of smaller-size trades in September.
Interestingly, Cisco and Starbucks are the two most traded single stocks by Franklin, who has made nearly 60 trades in the last 3 years. As far as sectors are concerned, Congressman Franklin mostly trades Healthcare, Financials, and Communication Services. In addition to the Armed Services Committee, Mr. Franklin also serves on the Oversight and Reform Committee.
