Lockheed Martin Co. (LMT) Raises Dividend to $2.20 Per Share
Lockheed Martin Co. (NYSE:LMT) declared a quarterly dividend on Thursday, September 27th, RTT News reports. Stockholders of record on Monday, December 3rd will be paid a dividend of 2.20 per share by the aerospace company on Friday, December 28th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 2.54%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.00.
Lockheed Martin has increased its dividend payment by an average of 10.8% annually over the last three years and has increased its dividend every year for the last 15 years. Lockheed Martin has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lockheed Martin to earn $18.97 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 42.2%.
Shares of Lockheed Martin stock traded up $3.10 on Thursday, reaching $345.98. 28,188 shares of the company were exchanged, compared to its average volume of 1,225,020. Lockheed Martin has a 1-year low of $291.52 and a 1-year high of $363.00. The company has a market cap of $97.83 billion, a PE ratio of 25.84, a P/E/G ratio of 2.72 and a beta of 0.72. The company has a debt-to-equity ratio of 28.14, a quick ratio of 0.97 and a current ratio of 1.19.
In related news, SVP Maryanne Lavan sold 7,250 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $323.64, for a total transaction of $2,346,390.00. Following the sale, the senior vice president now directly owns 9,869 shares in the company, valued at approximately $3,194,003.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Marillyn A. Hewson sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $323.68, for a total value of $8,092,000.00. Following the sale, the chairman now owns 90,625 shares in the company, valued at $29,333,500. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
A number of brokerages have recently commented on LMT. UBS Group began coverage on Lockheed Martin in a research report on Wednesday, August 15th. They set a “buy” rating and a $400.00 price objective for the company. Cowen upgraded Lockheed Martin from a “market perform” rating to an “outperform” rating and set a $370.00 target price on the stock in a research report on Wednesday, July 25th. Stifel Nicolaus reduced their target price on Lockheed Martin from $400.00 to $370.00 and set a “buy” rating on the stock in a research report on Wednesday, July 25th. Zacks Investment Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $359.00 price objective on the stock in a report on Monday, August 6th. Finally, Sanford C. Bernstein raised their price objective on Lockheed Martin from $349.00 to $356.00 and gave the stock a “market perform” rating in a report on Wednesday, July 25th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $372.02.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
Featured Article: Stop Order Uses For Individual Investors
Receive News & Ratings for Lockheed Martin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lockheed Martin and related companies with MarketBeat.com's FREE daily email newsletter.