Lockheed Martin (NYSE:LMT) Stock Price Up 1% After Dividend Announcement

Lockheed Martin Corporation (NYSE:LMT - Get Free Report)'s share price shot up 1% during trading on Thursday after the company announced a dividend. The stock traded as high as $463.66 and last traded at $463.17. 414,238 shares were traded during trading, a decline of 69% from the average session volume of 1,346,420 shares. The stock had previously closed at $458.39.The newly announced dividend which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.86%. Lockheed Martin's dividend payout ratio is currently 57.02%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. UBS Group boosted their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Trading Up 0.8%

The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The firm has a market capitalization of $108.23 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 1.60 and a beta of 0.29. The firm's 50-day simple moving average is $471.01 and its 200-day simple moving average is $467.51.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. Analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

A number of large investors have recently modified their holdings of LMT. Charles Schwab Investment Management Inc. boosted its stake in shares of Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after purchasing an additional 560,457 shares in the last quarter. Geode Capital Management LLC boosted its position in Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock valued at $2,374,557,000 after buying an additional 59,597 shares during the period. Royal Bank of Canada grew its stake in shares of Lockheed Martin by 1.4% during the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock valued at $1,021,846,000 after buying an additional 31,443 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock worth $1,098,667,000 after buying an additional 134,662 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Lockheed Martin by 0.6% in the 1st quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after acquiring an additional 12,899 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.

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