Lockheed Martin Co. Declares Quarterly Dividend of $3.30 (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 3.30 per share by the aerospace company on Friday, March 28th. This represents a $13.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, March 3rd.

Lockheed Martin has raised its dividend by an average of 6.4% annually over the last three years. Lockheed Martin has a payout ratio of 44.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lockheed Martin to earn $27.78 per share next year, which means the company should continue to be able to cover its $13.20 annual dividend with an expected future payout ratio of 47.5%.

Lockheed Martin Trading Down 0.7 %

Shares of LMT stock opened at $454.18 on Thursday. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market capitalization of $107.66 billion, a PE ratio of 16.44, a PEG ratio of 4.05 and a beta of 0.48. The stock has a fifty day simple moving average of $497.18 and a two-hundred day simple moving average of $537.55.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. On average, analysts predict that Lockheed Martin will post 26.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. TD Cowen increased their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Susquehanna lowered their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $556.13.

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.