Lockheed Martin (NYSE:LMT) Releases Quarterly Earnings Results, Beats Estimates By $0.53 EPS

Lockheed Martin (NYSE:LMT) posted its quarterly earnings results on Tuesday. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53, Briefing.com reports. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same quarter in the previous year, the firm posted $6.43 earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. Lockheed Martin updated its FY24 guidance to $25.65-26.35 EPS and its FY 2024 guidance to 25.650-26.350 EPS.

Lockheed Martin Trading Down 0.2 %

NYSE:LMT opened at $459.13 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.03 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 $480.92. The company has a market cap of $110.42 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. The company has a 50 day simple moving average of $442.16 and a two-hundred day simple moving average of $444.14.

Insider Activity at Lockheed Martin

In related news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LMT has been the subject of several recent research reports. Susquehanna reduced their price target on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $475.00 to $518.00 in a research report on Monday, April 15th. UBS Group raised their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada lowered their price objective on 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. Finally, Morgan Stanley lowered their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $479.90.

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.