FY2024 EPS Estimate for Lockheed Martin Lifted by Analyst

Lockheed Martin Co. (NYSE:LMT - Free Report) - Analysts at Seaport Res Ptn increased their FY2024 EPS estimates for Lockheed Martin in a research note issued to investors on Wednesday, October 23rd. Seaport Res Ptn analyst R. Safran now expects that the aerospace company will post earnings of $26.89 per share for the year, up from their previous forecast of $26.71. The consensus estimate for Lockheed Martin's current full-year earnings is $26.65 per share.

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

Several other equities research analysts have also weighed in on LMT. StockNews.com lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Robert W. Baird upped their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $606.71.

Lockheed Martin Stock Down 0.3 %

Shares of LMT traded down $1.92 during trading hours on Friday, hitting $562.29. 1,073,909 shares of the company were exchanged, compared to its average volume of 1,054,995. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The company has a market cap of $134.03 billion, a PE ratio of 20.43, a PEG ratio of 4.62 and a beta of 0.47. The firm's 50 day moving average is $580.03 and its 200-day moving average is $513.85. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's payout ratio is currently 45.62%.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently bought and sold shares of LMT. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its stake in shares of 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 purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC grew its holdings 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 worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin during the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC boosted its position in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock valued at $31,000 after buying an additional 22 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

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.