Lockheed Martin Corp. (LMT) Increases Dividend to $1.82 Per Share
Lockheed Martin Corp. (NYSE:LMT) declared a quarterly dividend on Thursday, September 22nd. Shareholders of record on Thursday, December 1st will be given a dividend of 1.82 per share on Friday, December 30th. This represents a $7.28 dividend on an annualized basis and a yield of 2.99%. This is a positive change from Lockheed Martin Corp.’s previous quarterly dividend of $1.65.
Shares of Lockheed Martin Corp. (NYSE:LMT) traded up 1.15% during midday trading on Thursday, reaching $246.62. The company’s stock had a trading volume of 620,455 shares. The stock has a 50 day moving average price of $248.86 and a 200-day moving average price of $239.80. The company has a market capitalization of $74.70 billion, a price-to-earnings ratio of 20.54 and a beta of 0.58. Lockheed Martin Corp. has a 52-week low of $199.01 and a 52-week high of $266.93.
Lockheed Martin Corp. (NYSE:LMT) last released its earnings results on Tuesday, July 19th. The company reported $3.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.93 by $0.39. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.56 billion. Lockheed Martin Corp. had a return on equity of 119.66% and a net margin of 7.37%. During the same quarter last year, the firm posted $2.94 EPS. Equities research analysts expect that Lockheed Martin Corp. will post $11.75 EPS for the current year.
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LMT has been the subject of a number of analyst reports. Zacks Investment Research cut Lockheed Martin Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Citigroup Inc. restated a “buy” rating and issued a $284.00 price target (up previously from $239.00) on shares of Lockheed Martin Corp. in a report on Tuesday, September 6th. Vetr cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price target for the company. in a report on Monday, July 4th. Argus reiterated a “buy” rating and set a $290.00 target price on shares of Lockheed Martin Corp. in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. began coverage on Lockheed Martin Corp. in a research note on Thursday, August 25th. They set a “neutral” rating and a $284.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $257.32.
In other Lockheed Martin Corp. news, insider Orlando D. Carvalho sold 12,700 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $254.78, for a total value of $3,235,706.00. Following the sale, the insider now owns 29,120 shares of the company’s stock, valued at approximately $7,419,193.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sondra L. Barbour sold 66,460 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total value of $16,996,480.40. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at approximately $7,979,088. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. First Heartland Consultants Inc. purchased a new stake in shares of Lockheed Martin Corp. during the second quarter valued at $205,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Lockheed Martin Corp. during the second quarter valued at $217,000. Point72 Asia Hong Kong Ltd raised its stake in shares of Lockheed Martin Corp. by 200.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 900 shares of the company’s stock valued at $223,000 after buying an additional 600 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Lockheed Martin Corp. by 40.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 913 shares of the company’s stock valued at $227,000 after buying an additional 261 shares during the last quarter. Finally, Keeley Asset Management Corp raised its stake in shares of Lockheed Martin Corp. by 0.3% in the second quarter. Keeley Asset Management Corp now owns 966 shares of the company’s stock valued at $240,000 after buying an additional 3 shares during the last quarter. 81.20% of the stock is currently owned by hedge funds and other institutional investors.
About Lockheed Martin Corp.
Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.
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