FY2024 EPS Forecast for Lockheed Martin Boosted by Analyst

Lockheed Martin Co. (NYSE:LMT - Free Report) - Analysts at Zacks Research boosted their FY2024 EPS estimates for shares of Lockheed Martin in a research report issued to clients and investors on Wednesday, December 18th. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings of $26.68 per share for the year, up from their previous forecast of $26.65. The consensus estimate for Lockheed Martin's current full-year earnings is $26.88 per share. Zacks Research also issued estimates for Lockheed Martin's Q1 2025 earnings at $6.65 EPS, Q3 2025 earnings at $7.22 EPS, Q4 2025 earnings at $6.90 EPS, FY2025 earnings at $28.05 EPS, Q3 2026 earnings at $7.56 EPS and FY2026 earnings at $29.61 EPS.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts' consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the business posted $6.77 earnings per share. The company's revenue was up 1.3% on a year-over-year basis.

A number of other research analysts have also recently weighed in on the stock. StockNews.com raised shares of Lockheed Martin from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Melius Research raised shares of Lockheed Martin to a "strong-buy" rating in a research report on Tuesday, September 3rd. Susquehanna cut their price objective on Lockheed Martin from $705.00 to $695.00 and set a "positive" rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company decreased their target price on Lockheed Martin from $602.00 to $543.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 11th. Finally, Melius upgraded Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of "Moderate Buy" and an average price target of $612.29.

Lockheed Martin Trading Up 2.0 %

Shares of LMT stock traded up $9.36 during trading hours on Friday, hitting $489.02. 3,964,597 shares of the company were exchanged, compared to its average volume of 1,100,334. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $618.95. The firm has a fifty day moving average of $541.05 and a 200 day moving average of $532.79. The firm has a market cap of $115.91 billion, a PE ratio of 17.71, a PEG ratio of 4.13 and a beta of 0.46. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock worth $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. grew its stake in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock valued at $7,054,000 after buying an additional 5,361 shares in the last quarter. Old West Investment Management LLC increased its holdings in Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company's stock worth $15,569,000 after buying an additional 1,643 shares during the last quarter. World Investment Advisors LLC raised its position in Lockheed Martin by 55.1% during the third quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company's stock valued at $3,781,000 after acquiring an additional 2,297 shares in the last quarter. Finally, Empower Advisory Group LLC raised its position in Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company's stock valued at $12,870,000 after acquiring an additional 1,843 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's payout ratio is 47.79%.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.