Lockheed Martin Co. Announces Quarterly Dividend of $3.15 (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) declared a quarterly dividend on Thursday, June 27th, RTT News reports. Stockholders of record on Tuesday, September 3rd will be paid a dividend of 3.15 per share by the aerospace company on Friday, September 27th. This represents a $12.60 annualized dividend and a dividend yield of 2.70%.

Lockheed Martin has increased its dividend payment by an average of 7.4% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Lockheed Martin has a dividend payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lockheed Martin to earn $28.37 per share next year, which means the company should continue to be able to cover its $12.60 annual dividend with an expected future payout ratio of 44.4%.

Lockheed Martin Price Performance

Shares of LMT stock opened at $467.13 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The company has a market capitalization of $112.08 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 4.40 and a beta of 0.47. The firm’s 50-day moving average is $464.56 and its two-hundred day moving average is $450.12. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $479.50.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.43 EPS. Analysts predict that Lockheed Martin will post 26.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LMT. Citigroup increased their price target on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Wells Fargo & Company boosted their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. The Goldman Sachs Group lowered their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $475.00 to $518.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $485.40.

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.