Lockheed Martin Corporation (NYSE:LMT - Get Free Report) announced a quarterly dividend on Wednesday, June 25th, RTT News reports. Investors 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%.
Lockheed Martin has a 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 Stock Down 0.3%
Shares of Lockheed Martin stock traded down $1.48 during midday trading on Wednesday, hitting $458.72. The company had a trading volume of 1,260,552 shares, compared to its average volume of 1,349,921. Lockheed Martin has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a market capitalization of $107.48 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.60 and a beta of 0.29. The company has a 50 day moving average of $471.38 and a 200 day moving average of $467.58.
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 (EPS) for the quarter, beating 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 analysts' expectations of $17.83 billion. On average, equities analysts predict that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.
Institutional Trading of Lockheed Martin
An institutional investor recently raised its position in Lockheed Martin stock. Brighton Jones LLC grew its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 5.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,995 shares of the aerospace company's stock after buying 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 filing with the Securities & Exchange Commission. 74.19% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have weighed in on LMT. Wells Fargo & Company decreased 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. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a report on Wednesday, April 16th. Melius cut Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. UBS Group upped 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. Finally, Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $541.80.
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About Lockheed Martin
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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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