Lockheed Martin (NYSE:LMT) Stock Price Up 0.1% After Dividend Announcement

Shares of Lockheed Martin Co. (NYSE:LMT) rose 0.1% on Thursday following a dividend announcement from the company. The company traded as high as $468.88 and last traded at $467.25. Approximately 196,125 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,074,110 shares. The stock had previously closed at $466.99.

The newly announced dividend which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Analysts Set New Price Targets

LMT has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group lifted their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group decreased their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Wells Fargo & Company lifted their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $485.40.

Lockheed Martin Price Performance

The business’s 50-day simple moving average is $464.84 and its 200-day simple moving average is $450.35. The stock has a market cap of $112.09 billion, a PE ratio of 17.09, a PEG ratio of 4.40 and a beta of 0.47. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

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

Institutional Investors Weigh In On Lockheed Martin

A number of large investors have recently modified their holdings of the stock. HM Payson & Co. boosted its stake in shares of Lockheed Martin by 1.4% during the 1st quarter. HM Payson & Co. now owns 10,306 shares of the aerospace company’s stock valued at $4,688,000 after purchasing an additional 142 shares in the last quarter. SRN Advisors LLC boosted its stake in shares of Lockheed Martin by 4.7% during the 1st quarter. SRN Advisors LLC now owns 2,019 shares of the aerospace company’s stock valued at $918,000 after purchasing an additional 90 shares in the last quarter. NBW Capital LLC boosted its stake in shares of Lockheed Martin by 6.6% during the 1st quarter. NBW Capital LLC now owns 514 shares of the aerospace company’s stock valued at $234,000 after purchasing an additional 32 shares in the last quarter. Keynote Financial Services LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $761,000. Finally, IMS Capital Management boosted its stake in shares of Lockheed Martin by 7.9% during the 1st quarter. IMS Capital Management now owns 2,344 shares of the aerospace company’s stock valued at $1,066,000 after purchasing an additional 171 shares in the last quarter. 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.