Lockheed Martin Co. (NYSE:LMT) Declares Quarterly Dividend of $3.30

Lockheed Martin Co. (NYSE:LMT) announced a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Stockholders of record on Monday, June 2nd will be paid a dividend of 3.30 per share by the aerospace company on Friday, June 27th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd.

Lockheed Martin has raised its dividend by an average of 6.4% per year over the last three years and has raised its dividend annually for the last 22 consecutive years. Lockheed Martin has a payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of NYSE LMT traded down $4.64 during mid-day trading on Tuesday, reaching $468.52. The company’s stock had a trading volume of 89,373 shares, compared to its average volume of 1,264,946. The stock has a 50-day moving average of $462.09 and a two-hundred day moving average of $481.59. The stock has a market capitalization of $109.77 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.07 and a beta of 0.29. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin has a 1-year low of $418.88 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. On average, equities research analysts anticipate that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last three months. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Lockheed Martin

An institutional investor recently raised its position in Lockheed Martin stock. Brighton Jones LLC boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,995 shares of the aerospace company’s stock after purchasing an additional 191 shares during the quarter. Brighton Jones LLC’s holdings in Lockheed Martin were worth $1,941,000 as of its most recent SEC filing. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Morgan Stanley raised shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a research note on Wednesday, April 16th. Finally, Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 target price for the company in a research note on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $541.80.

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.