Lockheed Martin Co. Plans Quarterly Dividend of $2.80 (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT – Get Rating) declared a quarterly dividend on Thursday, June 23rd, RTT News reports. Stockholders of record on Thursday, September 1st will be given a dividend of 2.80 per share by the aerospace company on Friday, September 23rd. This represents a $11.20 dividend on an annualized basis and a dividend yield of 2.70%.

Lockheed Martin has increased its dividend payment by an average of 8.9% annually over the last three years and has increased its dividend every year for the last 20 years. Lockheed Martin has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lockheed Martin to earn $28.24 per share next year, which means the company should continue to be able to cover its $11.20 annual dividend with an expected future payout ratio of 39.7%.

Shares of Lockheed Martin stock opened at $415.45 on Thursday. The stock has a 50 day moving average of $438.15 and a 200 day moving average of $411.54. Lockheed Martin has a 12 month low of $324.23 and a 12 month high of $479.99. The firm has a market cap of $110.56 billion, a PE ratio of 18.35, a PEG ratio of 2.75 and a beta of 0.76. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11.

Lockheed Martin (NYSE:LMT – Get Rating) last announced its quarterly earnings results on Tuesday, April 19th. The aerospace company reported $6.44 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.22. Lockheed Martin had a return on equity of 81.35% and a net margin of 9.45%. The company had revenue of $14.96 billion during the quarter, compared to analyst estimates of $15.49 billion. During the same period in the prior year, the company earned $6.56 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin will post 26.84 earnings per share for the current fiscal year.

In other Lockheed Martin news, Director John Donovan purchased 568 shares of Lockheed Martin stock in a transaction dated Thursday, April 21st. The shares were purchased at an average cost of $440.55 per share, for a total transaction of $250,232.40. Following the completion of the acquisition, the director now owns 568 shares in the company, valued at approximately $250,232.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of LMT. Lee Financial Co grew its position in shares of Lockheed Martin by 367.6% during the 1st quarter. Lee Financial Co now owns 477 shares of the aerospace company’s stock worth $210,000 after buying an additional 375 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Lockheed Martin by 240.0% during the 1st quarter. Vontobel Holding Ltd. now owns 4,124 shares of the aerospace company’s stock worth $1,821,000 after buying an additional 2,911 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Lockheed Martin by 56.8% during the 1st quarter. Sei Investments Co. now owns 23,153 shares of the aerospace company’s stock worth $9,995,000 after purchasing an additional 8,389 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Lockheed Martin by 18.4% during the 1st quarter. NewEdge Advisors LLC now owns 28,807 shares of the aerospace company’s stock worth $12,716,000 after purchasing an additional 4,472 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Lockheed Martin by 20.4% during the 1st quarter. Mackenzie Financial Corp now owns 107,366 shares of the aerospace company’s stock worth $47,391,000 after purchasing an additional 18,201 shares during the last quarter. 78.89% of the stock is currently owned by institutional investors and hedge funds.

LMT has been the subject of a number of research reports. Argus increased their price target on Lockheed Martin from $415.00 to $500.00 in a research note on Wednesday, April 20th. Susquehanna Bancshares upped their price objective on Lockheed Martin from $515.00 to $539.00 in a research report on Wednesday, April 20th. Wolfe Research upgraded Lockheed Martin from a “peer perform” rating to an “outperform” rating and set a $467.00 price objective on the stock in a research report on Monday, February 28th. Wells Fargo & Company upped their price objective on Lockheed Martin from $486.00 to $496.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 20th. Finally, Morgan Stanley upped their price objective on Lockheed Martin from $450.00 to $521.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $448.86.

About Lockheed Martin (Get Rating)

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

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