Lockheed Martin Co. (NYSE:LMT - Get Free Report) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Shareholders of record on Monday, June 2nd will be given a dividend of 3.30 per share by the aerospace company on Friday, June 27th. This represents a $13.20 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Monday, June 2nd.
Lockheed Martin has increased its dividend by an average of 6.4% per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Lockheed Martin has a payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lockheed Martin to earn $29.70 per share next year, which means the company should continue to be able to cover its $13.20 annual dividend with an expected future payout ratio of 44.4%.
Lockheed Martin Stock Down 0.1%
LMT traded down $0.55 during trading on Friday, hitting $464.59. 120,900 shares of the company's stock were exchanged, compared to its average volume of 1,279,883. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The business's 50 day moving average is $461.25 and its two-hundred day moving average is $480.58. Lockheed Martin has a fifty-two week low of $418.88 and a fifty-two week high of $618.95. The stock has a market cap of $108.85 billion, a P/E ratio of 20.82, a PEG ratio of 2.07 and a beta of 0.29.
Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, equities analysts expect that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
LMT has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Wells Fargo & Company reduced their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group increased their price target on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $541.80.
View Our Latest Stock Report on Lockheed Martin
Insider Buying and Selling at Lockheed Martin
In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last three months. 0.14% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Lockheed Martin
A hedge fund recently raised its stake in Lockheed Martin stock. Brighton Jones LLC increased its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,995 shares of the aerospace company's stock after purchasing an additional 191 shares during the period. Brighton Jones LLC's holdings in Lockheed Martin were worth $1,941,000 as of its most recent SEC filing. 74.19% of the stock is currently owned by institutional investors.
About Lockheed Martin
(
Get Free Report)
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.
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