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Is Lockheed Martin Stock Good for Dividend Investors?

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Lockheed Martin has just reported earnings for the third quarter of 2020. The stock was rising ahead of the earnings report as investors hoped the company would continue its trend of beating expectations. Lockheed Martin operates in the aerospace, defense, arms, and security industries. The company has a global footprint. Should you buy Lockheed Martin stock based on the earnings report? 

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When did Lockheed Martin report earnings?

Lockheed Martin reported its third quarter earnings before market opened on Oct. 20. The earnings are for the three months through Sept. 2020. The COVID-19 pandemic has slowed down business around the world as job losses have reduced consumer and dealt blow to corporate sales.

Lockheed Martin earnings report highlights

How did Lockheed Martin fare in the quarter? The company reported revenue of $16.5 billion, up from $15.2 billion a year ago and above consensus estimate at $16.1 billion. The company posted EPS of $6.25, compared with $5.66 a year ago and above consensus estimate at $6.09. 

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Source: Pexels

In addition to beating both revenue and EPS expectations for the third quarter, Lockheed Martin also raised its 2020 full-year revenue and profit outlook. It now expects full-year revenue of at least $65.25 billion. It previously forecast full-year revenue in the range of $63.50 billion to $65.50 billion. 

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Lockheed Martin stock rose in the premarket session today

Lockheed Martin stock popped up 0.71 percent to trade at $386.45 in premarket session. The stock fell 0.72 percent Monday to finish at $383.71 after trading in the range of $381.67–$389.60 for the day. Lockheed Martin currently trades 13 percent below its 52-week high of $442.53.

Lockheed Martin stock forecast suggests is a buy

Can Lockheed Martin stock make you money if you buy it now? The most bullish analyst sees 33 percent upside in Lockheed Martin stock from current level to $509 in 12 months. Even the most bearish Lockheed Martin stock price target of $390 implies 1.6 percent upside from current level. Most analysts recommending buying Lockheed Martin stock.

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What are Lockheed Martin’s dividend dates in 2020?

Investors seeking stocks with dividends may find Lockheed Martin attractive for their portfolio. The corporation has a long dividend history. Further, Lockheed has a track record of regularly increasing its dividends every year, according to its investor relations website.

Lockheed Martin has declared dividend four times in 2020. On Jan. 24, the company announced a quarterly cash dividend of $2.40 per share, which it paid on March 27. On April 22, Lockheed Martin announced a quarterly cash dividend of $2.40 per share, which it paid on Jun. 1. 

On Jun. 25, Lockheed Martin declared a quarterly cash dividend of $2.40 per share, which it paid on Sept. 25. On the same day it paid the dividend, Lockheed Martin announced a fresh quarterly dividend of $2.60 per share, which it plans to pay on Dec. 24. To qualify for Lockheed Martin’s next dividend payout, you must be a shareholder by Dec. 1, the company states on its investor relations website. 

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