Aerospace and defense company Lockheed Martin (NYSE: LMT) gained in pre-market trading on Monday after the company announced the raising of its fourth-quarter dividend to $3.15 per share from $3. The dividend will be payable on December 29 to holders of record as of the close of business on December 1, 2023. This will be the 21st consecutive year of dividend increases for the company.
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Meanwhile, the surprise attack on Israel by Hamas militants also boosted LMT and defense contractor RTX Corp. (RTX)
The company’s Board of Directors also authorized the purchase of up to an additional $6 billion of Lockheed Martin common stock under its share repurchase program, “nearly doubling total authorization of the current program to $13 billion for future purchases.”
Is Lockheed a Buy or Sell?
Analysts remain sidelined about LMT stock with a Hold consensus rating based on two Buys, 10 Holds, and one Sell.
