Lockheed Martin Co. (NYSE:LMT) – Investment analysts at Jefferies Financial Group issued their FY2022 earnings estimates for Lockheed Martin in a research report issued to clients and investors on Tuesday, November 19th. Jefferies Financial Group analyst S. Kahyaoglu expects that the aerospace company will post earnings per share of $28.50 for the year.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.02 by $0.64. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The company had revenue of $15.17 billion for the quarter, compared to analyst estimates of $14.87 billion. During the same quarter last year, the company posted $5.14 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year.
Shares of LMT opened at $390.26 on Wednesday. Lockheed Martin has a 52-week low of $241.18 and a 52-week high of $399.96. The business’s fifty day moving average is $380.79 and its 200-day moving average is $368.56. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.05 and a current ratio of 1.28. The firm has a market cap of $111.01 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.57 and a beta of 0.95.
A number of hedge funds have recently modified their holdings of LMT. Vanguard Group Inc. grew its position in shares of Lockheed Martin by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 21,642,359 shares of the aerospace company’s stock valued at $7,867,863,000 after buying an additional 111,239 shares during the last quarter. Northern Trust Corp grew its position in shares of Lockheed Martin by 1.3% in the 2nd quarter. Northern Trust Corp now owns 3,153,040 shares of the aerospace company’s stock valued at $1,146,256,000 after buying an additional 41,269 shares during the last quarter. Invesco Ltd. grew its position in shares of Lockheed Martin by 360.8% in the 2nd quarter. Invesco Ltd. now owns 2,615,225 shares of the aerospace company’s stock valued at $950,739,000 after buying an additional 2,047,707 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Lockheed Martin by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,981,732 shares of the aerospace company’s stock valued at $720,440,000 after buying an additional 9,767 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Lockheed Martin by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,940,513 shares of the aerospace company’s stock valued at $705,455,000 after buying an additional 72,256 shares during the last quarter. Institutional investors and hedge funds own 79.29% of the company’s stock.
Lockheed Martin announced that its board has approved a share repurchase plan on Thursday, September 26th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $2.40 per share. The ex-dividend date is Friday, November 29th. This represents a $9.60 dividend on an annualized basis and a yield of 2.46%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.20. Lockheed Martin’s payout ratio is currently 49.30%.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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