Lockheed Martin (NYSE:LMT) Shares Up 0.7% Following Dividend Announcement

Lockheed Martin Co. (NYSE:LMT) traded up 0.7% on Friday after the company announced a dividend. The stock traded as high as $471.75 and last traded at $470.50. 152,974 shares changed hands during trading, a decline of 86% from the average session volume of 1,072,126 shares. The stock had previously closed at $467.13.

The newly announced dividend which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.70%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $475.00 to $518.00 in a report on Monday, April 15th. UBS Group increased their price objective on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Citigroup boosted 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. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Stock Up 0.0 %

The stock has a market capitalization of $112.09 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 4.40 and a beta of 0.47. The business has a 50-day moving average of $464.84 and a 200-day moving average of $450.35. 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 (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 analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the business earned $6.43 earnings per share. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.17 EPS for the current year.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently modified their holdings of LMT. Hudock Inc. increased its stake in Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after purchasing an additional 22 shares during the period. American Trust lifted its holdings in Lockheed Martin by 1.8% during the 1st quarter. American Trust now owns 1,394 shares of the aerospace company’s stock worth $634,000 after buying an additional 24 shares in the last quarter. Norris Perne & French LLP MI boosted its position in Lockheed Martin by 2.8% in the 4th quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock valued at $410,000 after buying an additional 25 shares during the period. Genesee Capital Advisors LLC grew its stake in shares of Lockheed Martin by 2.8% in the fourth quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock worth $419,000 after acquiring an additional 25 shares in the last quarter. Finally, Hunter Associates Investment Management LLC increased its position in shares of Lockheed Martin by 1.3% during the fourth quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock worth $912,000 after acquiring an additional 25 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

About Lockheed Martin

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.