Lockheed Martin Co. Plans Quarterly Dividend of $3.30 (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 3.30 per share by the aerospace company on Friday, March 28th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%.

Lockheed Martin has raised its dividend payment by an average of 6.4% annually over the last three years. Lockheed Martin has a payout ratio of 44.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 9.1 %

Shares of LMT opened at $457.89 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a 50-day moving average price of $497.18 and a 200 day moving average price of $537.55. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The firm has a market capitalization of $108.54 billion, a P/E ratio of 16.58, a P/E/G ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Sell-side analysts forecast that Lockheed Martin will post 26.89 EPS for the current year.

Analysts Set New Price Targets

LMT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. TD Cowen upped their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays dropped their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $577.73.

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.