Lockheed Martin Co. Announces Quarterly Dividend of $3.30 (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT - Get Free Report) announced a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Shareholders of record on Monday, June 2nd will be paid a dividend of 3.30 per share by the aerospace company on Friday, June 27th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Monday, June 2nd.

Lockheed Martin has raised its dividend payment by an average of 6.4% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Lockheed Martin has a dividend payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.1%

Shares of LMT traded down $0.40 during midday trading on Monday, reaching $473.12. The company had a trading volume of 1,364,248 shares, compared to its average volume of 1,269,373. Lockheed Martin has a 1-year low of $418.88 and a 1-year high of $618.95. The stock has a market cap of $110.85 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The firm has a 50 day simple moving average of $461.84 and a 200-day simple moving average of $482.21. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Research analysts forecast that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on LMT shares. Jefferies Financial Group lowered their target price on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a report on Monday, April 28th. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. StockNews.com lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Robert W. Baird raised Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a report on Wednesday, April 23rd. Finally, Citigroup lowered their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $541.80.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. This trade represents a 23.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the 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 completion of the sale, the insider now directly owns 2,000 shares of the company's stock, valued at $884,840. This trade represents a 61.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lockheed Martin

A hedge fund recently raised its stake in Lockheed Martin stock. Brighton Jones LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,995 shares of the aerospace company's stock after buying an additional 191 shares during the quarter. Brighton Jones LLC's holdings in Lockheed Martin were worth $1,941,000 as of its most recent SEC filing. Institutional investors own 74.19% 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.

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