Seaport Res Ptn Weighs in on Lockheed Martin FY2024 Earnings

Lockheed Martin Co. (NYSE:LMT) – Research analysts at Seaport Res Ptn raised their FY2024 EPS estimates for shares of Lockheed Martin in a research report issued on Wednesday, October 23rd. Seaport Res Ptn analyst R. Safran now expects that the aerospace company will post earnings per share of $26.89 for the year, up from their prior forecast of $26.71. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.68 per share.

A number of other research analysts have also weighed in on LMT. Royal Bank of Canada dropped their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Susquehanna cut their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday. UBS Group boosted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Stock Performance

NYSE LMT opened at $564.21 on Friday. The stock has a market capitalization of $135.38 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47. The business’s 50 day moving average is $579.95 and its two-hundred day moving average is $513.50. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 earnings per share.

Institutional Trading of Lockheed Martin

A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares during the last quarter. International Assets Investment Management LLC boosted its position in Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after acquiring an additional 1,556,609 shares during the last quarter. Legal & General Group Plc grew its stake in Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after acquiring an additional 180,074 shares during the period. Dimensional Fund Advisors LP raised its holdings in Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after acquiring an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its stake in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 48.30%.

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.