Lockheed Martin Co. (NYSE:LMT) declared a quarterly dividend on Thursday, June 28th, RTT News reports. Investors of record on Tuesday, September 4th will be given a dividend of 2.00 per share by the aerospace company on Friday, September 28th. This represents a $8.00 annualized dividend and a dividend yield of 2.72%.
Lockheed Martin has increased its dividend payment by an average of 10.8% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Lockheed Martin has a dividend payout ratio of 61.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lockheed Martin to earn $18.10 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 44.2%.
Shares of Lockheed Martin traded down $0.63, hitting $294.15, on Thursday, Marketbeat.com reports. The company’s stock had a trading volume of 843,273 shares, compared to its average volume of 1,374,773. The company has a debt-to-equity ratio of -121.38, a quick ratio of 1.05 and a current ratio of 1.27. Lockheed Martin has a fifty-two week low of $274.69 and a fifty-two week high of $363.00. The company has a market capitalization of $85.40 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 24th. The aerospace company reported $4.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.35 by $0.67. Lockheed Martin had a net margin of 4.64% and a return on equity of 608.95%. The business had revenue of $11.64 billion for the quarter, compared to the consensus estimate of $11.25 billion. During the same period in the prior year, the company posted $3.00 earnings per share. Lockheed Martin’s revenue was up 3.8% compared to the same quarter last year. analysts forecast that Lockheed Martin will post 16.09 EPS for the current year.
Several equities analysts recently commented on LMT shares. Zacks Investment Research downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Barclays initiated coverage on shares of Lockheed Martin in a research note on Thursday, March 29th. They set an “equal weight” rating and a $369.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $388.00 to $373.00 and set an “overweight” rating on the stock in a research note on Thursday, April 12th. Cowen reiterated a “hold” rating and set a $370.00 price objective on shares of Lockheed Martin in a research note on Tuesday, April 24th. Finally, TheStreet upgraded shares of Lockheed Martin from a “c” rating to a “b-” rating in a research note on Tuesday, April 24th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Lockheed Martin presently has an average rating of “Hold” and an average price target of $371.26.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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