Lockheed Martin Corporation (NYSE:LMT – Get Free Report)’s share price rose 1% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $463.66 and last traded at $463.17. Approximately 414,238 shares changed hands during mid-day 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 annualized dividend and a yield of 2.88%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin’s payout ratio is currently 57.02%.
Analysts Set New Price Targets
LMT has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 23rd. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price objective on the stock in a report on Wednesday, April 16th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 3rd. Robert W. Baird upgraded Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective on the stock in a report on Wednesday, April 23rd. Finally, Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average price target of $541.80.
Lockheed Martin Price Performance
The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79. The firm has a market cap of $107.45 billion, a P/E ratio of 19.81, a PEG ratio of 1.60 and a beta of 0.29. The company has a fifty day moving average price of $470.80 and a two-hundred day moving average price of $466.78.
Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 104.09% and a net margin of 7.66%. Equities analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in Lockheed Martin by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company’s stock valued at $3,587,444,000 after buying an additional 560,457 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lockheed Martin by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after buying an additional 59,597 shares during the last quarter. Royal Bank of Canada raised its position in Lockheed Martin by 1.4% in the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company’s stock valued at $1,021,846,000 after purchasing an additional 31,443 shares during the last quarter. Northern Trust Corp raised its position in Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after purchasing an additional 134,662 shares during the last quarter. Finally, Invesco Ltd. raised its position in Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company’s stock valued at $958,116,000 after purchasing an additional 12,899 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.
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.
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