Lockheed Martin Co. (NYSE:LMT) to Issue $3.15 Quarterly Dividend

Lockheed Martin Co. (NYSE:LMT) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors 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 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 raised its dividend annually for the last 21 consecutive years. Lockheed Martin has a payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 0.4 %

Lockheed Martin stock traded up $1.65 during midday trading on Thursday, hitting $463.38. 1,011,364 shares of the stock were exchanged, compared to its average volume of 1,156,064. Lockheed Martin has a 52-week low of $393.77 and a 52-week high of $479.50. The stock has a market capitalization of $111.18 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 4.26 and a beta of 0.46. The business’s 50-day moving average price is $446.11 and its 200-day moving average price is $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 (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. During the same period in the previous year, the company earned $6.43 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin will post 26.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Citigroup boosted their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Susquehanna decreased their target price on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, January 24th. Finally, StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $485.40.

Insider Transactions at Lockheed Martin

In other news, COO John Frank A. St sold 6,648 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. 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 quarter. Insiders own 0.17% of the company’s stock.

Lockheed Martin Company Profile

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.