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

Lockheed Martin Corporation (NYSE:LMT - Get Free Report) announced a quarterly dividend on Wednesday, June 25th, RTT News reports. Shareholders of record on Tuesday, September 2nd will be paid a dividend of 3.30 per share by the aerospace company on Friday, September 26th. This represents a $13.20 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Lockheed Martin has a dividend payout ratio of 44.1% meaning its dividend is sufficiently covered by earnings. 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 Performance

NYSE:LMT traded up $0.69 during mid-day trading on Friday, hitting $458.59. The company's stock had a trading volume of 1,995,444 shares, compared to its average volume of 1,357,054. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. Lockheed Martin has a 1 year low of $418.88 and a 1 year high of $618.95. The business's fifty day moving average is $470.80 and its two-hundred day moving average is $466.78. The stock has a market cap of $107.45 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.60 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 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. The business had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Analysts anticipate that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Institutional Trading of Lockheed Martin

A hedge fund recently raised its stake in Lockheed Martin stock. Brighton Jones LLC increased its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period. 74.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LMT. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, UBS Group increased their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin presently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

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.