Lockheed Martin Co. (LMT) To Go Ex-Dividend on March 3rd

Lockheed Martin Co. (NYSE:LMT) announced a quarterly dividend on Tuesday, January 28th, RTT News reports. Stockholders of record on Monday, March 3rd will be given 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 2.93%. The ex-dividend date of this dividend is Monday, March 3rd.

Lockheed Martin has raised its dividend by an average of 6.4% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Lockheed Martin has a payout ratio of 44.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lockheed Martin to earn $29.70 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 44.4%.

Lockheed Martin Stock Performance

LMT opened at $450.19 on Friday. The stock has a market cap of $105.97 billion, a PE ratio of 20.22, a P/E/G ratio of 2.07 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 1 year low of $419.70 and a 1 year high of $618.95. The stock’s 50 day simple moving average is $465.79 and its 200-day simple moving average is $525.34.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts forecast that Lockheed Martin will post 27.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Susquehanna lowered their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $553.67.

Insider Activity

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last 90 days. 0.17% of the stock is owned by company insiders.

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.