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.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 24th. The aerospace company reported $4.31 EPS for the quarter, topping the Zacks’ consensus estimate of $3.92 by $0.39. Lockheed Martin had a return on equity of 944.31% and a net margin of 5.00%. The business had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $12.72 billion. During the same period in the previous year, the company posted $3.23 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts predict that Lockheed Martin will post 17.21 earnings per share for the current fiscal year.

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.

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Dividend History for Lockheed Martin (NYSE:LMT)

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