Research Analysts Offer Predictions for Lockheed Martin Co.'s FY2024 Earnings (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT - Free Report) - Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Lockheed Martin in a research report issued to clients and investors on Wednesday, October 2nd. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings per share of $26.60 for the year, up from their prior estimate of $26.39. The consensus estimate for Lockheed Martin's current full-year earnings is $26.65 per share. Zacks Research also issued estimates for Lockheed Martin's Q4 2024 earnings at $6.61 EPS, Q3 2025 earnings at $6.97 EPS, Q1 2026 earnings at $7.32 EPS, Q2 2026 earnings at $7.58 EPS and Q3 2026 earnings at $7.18 EPS.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analysts' expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $6.73 earnings per share.

A number of other analysts have also recently issued reports on the company. TD Cowen raised Lockheed Martin from a "hold" rating to a "buy" rating and lifted their price objective for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. Barclays raised their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 30th. UBS Group increased their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Lockheed Martin from $600.00 to $675.00 and gave the company an "outperform" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $568.31.

Lockheed Martin Stock Up 0.1 %

Shares of Lockheed Martin stock traded up $0.44 on Monday, hitting $605.57. 1,102,195 shares of the company traded hands, compared to its average volume of 1,065,239. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $611.59. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market cap of $145.30 billion, a PE ratio of 22.16, a PEG ratio of 4.66 and a beta of 0.47. The company has a 50-day moving average price of $565.71 and a 200 day moving average price of $500.06.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC boosted its position in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock valued at $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company's stock valued at $29,000 after buying an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin during the first quarter worth $30,000. Finally, Stephens Consulting LLC lifted its stake in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock valued at $31,000 after acquiring an additional 22 shares during the period. Institutional investors own 74.19% of the company's stock.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by insiders.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.18%. Lockheed Martin's payout ratio is currently 46.10%.

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.