Lockheed Martin (NYSE:LMT) Stock Price Up 2.3% After Dividend Announcement

Lockheed Martin Corporation (NYSE:LMT) traded up 2.3% during trading on Monday following a dividend announcement from the company. The company traded as high as $638.97 and last traded at $638.19. 1,570,681 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 2,156,113 shares. The stock had previously closed at $623.58.

The newly announced dividend which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be paid a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is currently 64.22%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LMT. Morgan Stanley set a $675.00 price objective on Lockheed Martin in a research report on Wednesday, February 4th. TD Cowen raised their price target on Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. DZ Bank cut Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target for the company. in a report on Tuesday, February 3rd. UBS Group increased their price objective on shares of Lockheed Martin from $580.00 to $663.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Citigroup raised their target price on shares of Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research report on Thursday. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and an average target price of $612.50.

Lockheed Martin Stock Up 2.3%

The stock has a fifty day moving average price of $530.22 and a 200-day moving average price of $488.63. The firm has a market cap of $146.83 billion, a PE ratio of 29.70, a PEG ratio of 1.12 and a beta of 0.23. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the business posted $7.67 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Institutional Trading of Lockheed Martin

Large investors have recently added to or reduced their stakes in the stock. United Financial Planning Group LLC acquired a new position in Lockheed Martin during the 3rd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 40 shares during the period. Grey Fox Wealth Advisors LLC acquired a new position in shares of Lockheed Martin during the third quarter worth $27,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Lockheed Martin during the second quarter worth $28,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Lockheed Martin in the second quarter valued at $29,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.