Lockheed Martin Co. (NYSE:LMT) Announces 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 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 yield of 2.70%.

Lockheed Martin has increased its dividend by an average of 7.4% per year over the last three years and has increased its dividend every year for the last 21 years. Lockheed Martin has a payout ratio of 45.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of NYSE LMT opened at $467.14 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $479.50. The company has a 50 day simple moving average of $464.84 and a two-hundred day simple moving average of $450.35. The stock has a market cap of $112.09 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 4.40 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 EPS 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 business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. During the same period in the previous year, the business posted $6.43 EPS. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin will post 26.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their price objective 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. The Goldman Sachs Group reduced 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. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Finally, Citigroup upped their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One equities 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 company. According to data from MarketBeat, Lockheed Martin has an average 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.