Lockheed Martin (NYSE:LMT) Shares Up 1% Following Dividend Announcement

Lockheed Martin Corporation (NYSE:LMT)’s share price was up 1% during trading on Thursday after the company announced a dividend. The company traded as high as $463.66 and last traded at $463.17. Approximately 414,238 shares were traded during trading, a decline of 69% from the average daily volume of 1,346,420 shares. The stock had previously closed at $458.39.

The newly announced dividend which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin’s payout ratio is 57.02%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LMT shares. UBS Group increased their price target on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 23rd. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research note on Wednesday, April 23rd. Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Morgan Stanley raised Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target for the company in a report on Wednesday, April 16th. Finally, Wells Fargo & Company decreased their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $541.80.

Lockheed Martin Stock Performance

The firm’s 50-day moving average price is $470.90 and its 200-day moving average price is $467.16. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The stock has a market cap of $107.36 billion, a P/E ratio of 19.79, a PEG ratio of 1.60 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Sell-side analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OMNI 360 Wealth Inc. lifted its position in Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company’s stock worth $408,000 after buying an additional 22 shares during the last quarter. 49 Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 3.4% in the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company’s stock worth $295,000 after acquiring an additional 22 shares during the last quarter. Tyler Stone Wealth Management boosted its stake in shares of Lockheed Martin by 3.3% during the 1st quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company’s stock worth $306,000 after purchasing an additional 22 shares during the period. Private Portfolio Partners LLC grew its holdings in Lockheed Martin by 4.8% during the 4th quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company’s stock valued at $244,000 after purchasing an additional 23 shares during the last quarter. Finally, Tealwood Asset Management Inc. grew its holdings in Lockheed Martin by 0.4% during the 1st quarter. Tealwood Asset Management Inc. now owns 5,728 shares of the aerospace company’s stock valued at $2,559,000 after purchasing an additional 23 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other 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.