Lockheed Martin Co. (NYSE:LMT) to Post FY2024 Earnings of $26.09 Per Share, Zacks Research Forecasts

Lockheed Martin Co. (NYSE:LMT) – Analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for Lockheed Martin in a research report issued on Tuesday, May 14th. Zacks Research analyst R. Department anticipates that the aerospace company will post earnings per share of $26.09 for the year. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.19 per share.

Several other analysts have also weighed in on LMT. The Goldman Sachs Group reduced their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $475.00 to $518.00 in a research note on Monday, April 15th. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. UBS Group upped their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley cut their price objective on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Price Performance

LMT stock opened at $464.83 on Friday. The company’s 50-day moving average price is $453.93 and its two-hundred day moving average price is $446.74. The firm has a market cap of $111.53 billion, a P/E ratio of 17.01, a P/E/G ratio of 4.24 and a beta of 0.46. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $479.50.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The business had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.43 earnings per share.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin’s payout ratio is 46.10%.

Insider Buying and Selling

In other news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock worth $7,249,946 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Lockheed Martin by 10,526.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after buying an additional 1,349,409 shares in the last quarter. Van ECK Associates Corp lifted its position in Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares during the last quarter. Franklin Resources Inc. raised its holdings in Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after buying an additional 336,588 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at $151,402,000. Finally, Vanguard Group Inc. grew its holdings in Lockheed Martin by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after acquiring an additional 279,162 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

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.