Fintel reports that on September 18, 2023, Wells Fargo upgraded their outlook for Lockheed Martin (NYSE:LMT) from Underweight to Equal-Weight.

Analyst Price Forecast Suggests 19.33% Upside

As of August 31, 2023, the average one-year price target for Lockheed Martin is 512.91. The forecasts range from a low of 377.74 to a high of $598.50. The average price target represents an increase of 19.33% from its latest reported closing price of 429.81.

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The projected annual revenue for Lockheed Martin is 66,400MM, a decrease of 1.47%. The projected annual non-GAAP EPS is 27.30.

Lockheed Martin Declares $3.00 Dividend

On June 22, 2023 the company declared a regular quarterly dividend of $3.00 per share ($12.00 annualized). Shareholders of record as of September 1, 2023 will receive the payment on September 22, 2023. Previously, the company paid $3.00 per share.

At the current share price of $429.81 / share, the stock’s dividend yield is 2.79%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.71%, the lowest has been 2.18%, and the highest has been 3.59%. The standard deviation of yields is 0.27 (n=235).

The current dividend yield is 0.30 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.43. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 3223 funds or institutions reporting positions in Lockheed Martin. This is a decrease of 60 owner(s) or 1.83% in the last quarter. Average portfolio weight of all funds dedicated to LMT is 0.50%, a decrease of 7.35%. Total shares owned by institutions decreased in the last three months by 3.00% to 209,041K shares. The put/call ratio of LMT is 0.92, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,894K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 7,727K shares, representing an increase of 2.11%. The firm decreased its portfolio allocation in LMT by 8.21% over the last quarter.

Capital World Investors holds 7,486K shares representing 2.97% ownership of the company. In it’s prior filing, the firm reported owning 9,270K shares, representing a decrease of 23.84%. The firm decreased its portfolio allocation in LMT by 26.82% over the last quarter.

Charles Schwab Investment Management holds 5,589K shares representing 2.22% ownership of the company. In it’s prior filing, the firm reported owning 5,480K shares, representing an increase of 1.96%. The firm decreased its portfolio allocation in LMT by 3.45% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 5,367K shares representing 2.13% ownership of the company. In it’s prior filing, the firm reported owning 5,127K shares, representing an increase of 4.47%. The firm decreased its portfolio allocation in LMT by 7.67% over the last quarter.

Geode Capital Management holds 4,451K shares representing 1.77% ownership of the company. In it’s prior filing, the firm reported owning 4,345K shares, representing an increase of 2.39%. The firm decreased its portfolio allocation in LMT by 9.74% over the last quarter.

Lockheed Martin Background Information
(This description is provided by the company.)

Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

This article originally appeared on Fintel

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