Lockheed Martin Co. (LMT) to Distribute Quarterly Dividend of $3.15 on September 27th

Lockheed Martin Co. (NYSE:LMT) declared a quarterly dividend on Thursday, June 27th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 2.70%.

Lockheed Martin has increased its dividend payment by an average of 7.4% annually 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 Up 0.0 %

Shares of Lockheed Martin stock opened at $467.14 on Friday. 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 has a twelve month low of $393.77 and a twelve month high of $479.50. The company has a market cap of $112.09 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 4.40 and a beta of 0.47. The company’s 50 day moving average is $464.84 and its 200 day moving average is $450.35.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $16.04 billion. During the same period last year, the firm earned $6.43 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Research analysts anticipate that Lockheed Martin will post 26.17 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on LMT shares. UBS Group increased their price target 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. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Citigroup increased their price target 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. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target 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.