Lockheed Martin Co. (LMT) to Issue Quarterly Dividend of $3.15 on June 28th

Lockheed Martin Co. (NYSE:LMT) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Monday, June 3rd will be paid a dividend of 3.15 per share by the aerospace company on Friday, June 28th. This represents a $12.60 dividend on an annualized basis and a yield of 2.73%.

Lockheed Martin has raised its dividend by an average of 7.4% annually over the last three years and has raised its dividend every year for the last 21 years. Lockheed Martin has a dividend payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lockheed Martin to earn $28.31 per share next year, which means the company should continue to be able to cover its $12.60 annual dividend with an expected future payout ratio of 44.5%.

Lockheed Martin Trading Down 0.3 %

Shares of LMT stock opened at $461.95 on Friday. The firm has a 50 day moving average price of $446.80 and a two-hundred day moving average price of $445.23. The company has a market capitalization of $110.84 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 4.24 and a beta of 0.46. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $479.50. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.43 earnings per share. As a group, analysts predict that Lockheed Martin will post 26.15 earnings per share for the current year.

Insider Activity

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock valued at $7,249,946 over the last three months. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup boosted their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. The Goldman Sachs Group decreased their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Royal Bank of Canada lowered their target price on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a report on Wednesday, January 24th. Finally, Wells Fargo & Company raised their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $485.40.

About Lockheed Martin

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.