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

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

Lockheed Martin has raised its dividend by an average of 7.4% per year over the last three years and has increased its dividend annually for the last 21 consecutive years. Lockheed Martin has a payout ratio of 45.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.0 %

Shares of LMT traded up $0.14 on Thursday, reaching $467.13. The stock had a trading volume of 871,003 shares, compared to its average volume of 1,079,597. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $479.50. The firm has a market capitalization of $112.08 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 4.41 and a beta of 0.47. The company has a 50-day simple moving average of $464.56 and a 200-day simple moving average of $450.12.

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

Analysts Set New Price Targets

LMT has been the subject of a number of analyst reports. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company increased their target price on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. UBS Group boosted their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, Citigroup boosted their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $485.40.

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.