Lockheed Martin Co. (LMT) to Issue Quarterly Dividend of $3.30 on March 28th

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

Lockheed Martin has raised its dividend by an average of 6.4% per year over the last three years. Lockheed Martin has a dividend payout ratio of 44.6% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of LMT opened at $454.18 on Thursday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95. The company has a 50-day simple moving average of $497.18 and a two-hundred day simple moving average of $537.55. The firm has a market capitalization of $107.66 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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 anticipate that Lockheed Martin will post 26.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on LMT. Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. TD Cowen lifted their target price 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. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday. Robert W. Baird upped their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Morgan Stanley lowered their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued 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 currently has an average rating of “Moderate Buy” and an average target price 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.