Lockheed Martin Co. (NYSE:LMT – Get Rating) declared a quarterly dividend on Friday, September 30, reports RTT News. Shareholders of record on Thursday, December 1 will receive a dividend of $3.00 per share from the aerospace company on Friday, December 30. This represents a dividend of $12.00 on an annualized basis and a yield of 3.11%. This is a boost from Lockheed Martin’s previous quarterly dividend of $2.80.
Lockheed Martin has increased its dividend by an average of 8.9% per year over the past three years and has increased its dividend annually for the past 19 consecutive years. Lockheed Martin has a payout ratio of 39.8%, which means its dividend is sufficiently covered by earnings. Analysts expect Lockheed Martin to earn $28.20 per share next year, meaning the company should continue to be able to cover its $11.20 annual dividend with a future payout ratio. forecast of 39.7%.
Lockheed Martin shares fall 0.9%
LMT stock traded at $3.50 at midday on Friday, hitting $386.29. The company had a trading volume of 1,332,860 shares, compared to an average volume of 1,708,661 shares. The company has a debt ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.06. The stock has a 50-day simple moving average of $420.62 and a two-hundred-day simple moving average of $429.76. The company has a market capitalization of $102.43 billion, a price-earnings ratio of 22.41, a PEG ratio of 2.74 and a beta of 0.66. Lockheed Martin has a 52-week low of $324.23 and a 52-week high of $479.99.
Lockheed Martin (NYSE:LMT – Get Rating) released its quarterly results for the last time on Tuesday, July 19. The aerospace company reported earnings per share of $6.32 for the quarter, beating consensus analyst estimates of $6.29 by $0.03. The company posted revenue of $15.45 billion in the quarter, versus a consensus estimate of $16.02 billion. Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. The company’s revenues were down 9.3% from the same quarter last year. During the same period last year, the company earned earnings per share of $7.13. As a group, stock analysts predict Lockheed Martin will post earnings per share of 26.8 for the current fiscal year.
Separately, director John Donovan purchased 632 shares of Lockheed Martin in a trade dated Wednesday, July 20. The shares were purchased at an average cost of $396.16 per share, for a total transaction of $250,373.12. As a result of the purchase, the administrator now owns 1,200 shares of the company, valued at approximately $475,392. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Separately, director John Donovan purchased 632 shares of Lockheed Martin in a trade dated Wednesday, July 20. The shares were purchased at an average cost of $396.16 per share, for a total transaction of $250,373.12. As a result of the purchase, the administrator now owns 1,200 shares of the company, valued at approximately $475,392. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Additionally, Executive Vice President Gregory M. Ulmer sold 6,929 shares of the company in a trade that took place on Wednesday, August 3. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The disclosure of this sale can be found here. 0.17% of the shares are currently held by company insiders.
Institutional investors weigh in on Lockheed Martin
Hedge funds have recently increased or reduced their stakes in the company. Centiva Capital LP increased its stake in Lockheed Martin by 763.3% during the second quarter. Centiva Capital LP now owns 6,423 shares of the aerospace company worth $2,762,000 after buying 5,679 additional shares in the last quarter. Atlas Capital Advisors LLC increased its stake in Lockheed Martin by 73.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 229 shares of the aerospace company worth $98,000 after buying 97 more shares in the last quarter. Morgan Dempsey Capital Management LLC increased its stake in Lockheed Martin by 2.9% during the second quarter. Morgan Dempsey Capital Management LLC now owns 18,950 shares of the aerospace company worth $8,148,000 after buying an additional 530 shares in the last quarter. First Command Bank increased its stake in Lockheed Martin by 117.3% during the second quarter. First Command Bank now owns 7,085 shares of the aerospace company worth $3,046,000 after buying 3,824 more shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Lockheed Martin by 7.5% during the first quarter. Neuberger Berman Group LLC now owns 46,512 shares of the aerospace company worth $20,625,000 after buying 3,252 additional shares in the last quarter. 75.50% of the shares are currently held by institutional investors and hedge funds.
A Wall Street analyst gives his opinion
Several research analysts have recently commented on the company. Royal Bank of Canada assumed cover for Lockheed Martin in a research note on Monday, August 29. They set an “industry performance” rating and a target price of $460.00 for the company. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong buy” rating in a Friday, September 23 research rating. Morgan Stanley cut its price target on Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a Wednesday, July 20 research note. Finally, Wells Fargo & Company downgraded Lockheed Martin from an “equal weight” rating to an “underweight” rating and set a price target of $415.00 for the company. in a research note Wednesday. One investment analyst has assigned the stock a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned the company a strong buy rating. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $460.73.
Lockheed Martin Company Profile
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Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration and maintenance of technology systems, products and services worldwide. It operates through four segments: Aerospace, Missiles and Fire Control, Rotary and Mission Systems, and Space.
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