FY2024 Earnings Estimate for Lockheed Martin Co. (NYSE:LMT) Issued By Zacks Research

Lockheed Martin Co. (NYSE:LMT - Free Report) - Equities research analysts at Zacks Research issued their FY2024 earnings per share estimates for shares of Lockheed Martin in a research report issued to clients and investors on Tuesday, May 14th. Zacks Research analyst R. Department anticipates that the aerospace company will post earnings of $26.09 per share for the year. The consensus estimate for Lockheed Martin's current full-year earnings is $26.19 per share.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts' consensus estimates of $5.80 by $0.53. The firm had revenue of $17.20 billion during the quarter, compared to analysts' expectations of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business's quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.43 earnings per share.

Several other equities research analysts also recently weighed in on LMT. Citigroup upped their price target on Lockheed Martin from $508.00 to $525.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Morgan Stanley reduced their target price on shares of Lockheed Martin from $513.00 to $503.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a "hold" rating in a report on Thursday, April 25th. Susquehanna reduced their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a "positive" rating on the stock in a report on Wednesday, January 24th. Finally, The Goldman Sachs Group decreased their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a "sell" rating for the company in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of "Hold" and an average target price of $485.40.

Lockheed Martin Stock Up 0.3 %

Shares of NYSE LMT traded up $1.37 during mid-day trading on Friday, hitting $466.20. The company had a trading volume of 677,171 shares, compared to its average volume of 1,106,207. The company has a market capitalization of $111.86 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 4.24 and a beta of 0.46. The business's 50-day simple moving average is $453.93 and its 200 day simple moving average is $446.74. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $479.50. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, June 3rd. Lockheed Martin's payout ratio is 46.10%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business's stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the firm's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the transaction, the insider now owns 12,604 shares in the company, valued at $5,434,718.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,874 shares of company stock worth $7,249,946. Corporate insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Lockheed Martin by 10,526.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company's stock valued at $617,416,000 after buying an additional 1,349,409 shares during the period. Van ECK Associates Corp increased its stake in shares of Lockheed Martin by 1,075.2% during the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company's stock worth $218,841,000 after acquiring an additional 440,169 shares during the period. Franklin Resources Inc. raised its holdings in Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company's stock worth $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Confluence Investment Management LLC purchased a new position in Lockheed Martin during the first quarter worth about $151,402,000. Finally, Vanguard Group Inc. lifted its position in Lockheed Martin by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company's stock valued at $9,120,920,000 after purchasing an additional 279,162 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.