Lockheed Martin Co. Announces Quarterly Dividend of $3.15 (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Monday, June 3rd will be given a dividend of 3.15 per share by the aerospace company on Friday, June 28th. This represents a $12.60 annualized dividend and a dividend yield of 2.72%.

Lockheed Martin has increased its dividend payment by an average of 7.4% per year over the last three years and has increased its dividend every year for the last 21 years. Lockheed Martin has a dividend payout ratio of 45.3% meaning 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 Stock Up 0.3 %

LMT stock traded up $1.47 during trading on Thursday, hitting $463.20. 999,529 shares of the company’s stock traded hands, compared to its average volume of 1,156,064. The firm has a market capitalization of $111.14 billion, a P/E ratio of 16.83, a PEG ratio of 4.26 and a beta of 0.46. The business has a fifty day simple moving average of $446.11 and a two-hundred day simple moving average of $445.10. 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 has a 1 year low of $393.77 and a 1 year high of $479.50.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $6.43 earnings per share. Sell-side analysts anticipate that Lockheed Martin will post 26.12 EPS for the current year.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. UBS Group upped their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group dropped their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Finally, Susquehanna dropped their price target on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $485.40.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other 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 filing with the SEC, which is available at this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. Insiders have sold 16,874 shares of company stock valued at $7,249,946 in the last ninety days. Insiders own 0.17% of the company’s stock.

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.