Lockheed Martin (NYSE:LMT) Trading Up 0.1% Following Dividend Announcement

Lockheed Martin Co. (NYSE:LMT)’s stock price traded up 0.1% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $468.88 and last traded at $467.25. 196,125 shares changed hands during trading, a decline of 82% from the average session volume of 1,074,110 shares. The stock had previously closed at $466.99.

The newly announced dividend which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LMT. Citigroup raised their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group increased their target price on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Finally, StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Stock Up 0.0 %

The stock has a 50-day moving average of $464.84 and a 200 day moving average of $450.35. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $112.09 billion, a PE ratio of 17.09, a P/E/G ratio of 4.40 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the company posted $6.43 earnings per share. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.17 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently bought and sold shares of LMT. Rehmann Capital Advisory Group grew its stake in shares of Lockheed Martin by 5.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 3,975 shares of the aerospace company’s stock worth $1,626,000 after acquiring an additional 200 shares during the period. Waverly Advisors LLC boosted its position in Lockheed Martin by 3.8% during the third quarter. Waverly Advisors LLC now owns 1,177 shares of the aerospace company’s stock worth $481,000 after purchasing an additional 43 shares during the period. Hodges Capital Management Inc. bought a new position in Lockheed Martin during the third quarter worth about $369,000. Quadrature Capital Ltd increased its stake in shares of Lockheed Martin by 186.5% in the third quarter. Quadrature Capital Ltd now owns 76,299 shares of the aerospace company’s stock worth $31,207,000 after purchasing an additional 49,669 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its position in shares of Lockheed Martin by 2.5% in the third quarter. Insigneo Advisory Services LLC now owns 4,124 shares of the aerospace company’s stock valued at $1,687,000 after purchasing an additional 102 shares during the period. 74.19% of the stock is owned by institutional investors.

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.