Lockheed Martin (NYSE:LMT) Trading 0.1% Higher After Dividend Announcement

Shares of Lockheed Martin Co. (NYSE:LMT) were up 0.1% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $468.88 and last traded at $467.25. Approximately 196,125 shares traded hands during mid-day trading, a decline of 82% from the average daily 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. Stockholders of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.70%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Analyst Ratings Changes

LMT has been the topic of a number of recent research reports. Citigroup upped their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group decreased their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. UBS Group lifted their price objective on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Trading Up 0.0 %

The business’s 50-day moving average is $464.84 and its two-hundred day moving average is $450.35. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $112.09 billion, a PE ratio of 17.09, a PEG ratio of 4.40 and a beta of 0.47.

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

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group increased its stake in shares of Lockheed Martin by 5.3% in the third quarter. Rehmann Capital Advisory Group now owns 3,975 shares of the aerospace company’s stock valued at $1,626,000 after purchasing an additional 200 shares during the period. Waverly Advisors LLC raised its stake in Lockheed Martin by 3.8% during the 3rd quarter. Waverly Advisors LLC now owns 1,177 shares of the aerospace company’s stock valued at $481,000 after acquiring an additional 43 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in Lockheed Martin during the 3rd quarter worth $369,000. Quadrature Capital Ltd grew 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 increased its holdings in shares of Lockheed Martin by 2.5% during 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 currently owned by hedge funds and other institutional investors.

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.