Lockheed Martin (NYSE:LMT - Get Free Report) posted its earnings results on Tuesday. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.80 by $0.53, Briefing.com reports. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same period last year, the business posted $6.43 EPS. Lockheed Martin's revenue was up 13.7% compared to the same quarter last year. Lockheed Martin updated its FY24 guidance to $25.65-26.35 EPS and its FY 2024 guidance to 25.650-26.350 EPS.
Lockheed Martin Price Performance
Shares of NYSE:LMT traded down $0.95 during midday trading on Wednesday, reaching $459.13. 1,018,454 shares of the company's stock were exchanged, compared to its average volume of 1,174,945. The company's 50 day simple moving average is $442.16 and its two-hundred day simple moving average is $444.14. The firm has a market capitalization of $110.42 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $480.92. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on LMT shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. The Goldman Sachs Group decreased their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a "sell" rating on the stock in a research report on Tuesday. Citigroup raised their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group raised their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Susquehanna decreased their price target on shares of Lockheed Martin from $550.00 to $540.00 and set a "positive" rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $479.90.
Check Out Our Latest Research Report on LMT
Insider Transactions at Lockheed Martin
In other news, SVP Maryanne Lavan sold 4,022 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction dated 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 transaction, the insider now directly owns 12,604 shares of the company's stock, valued at $5,434,718.76. The disclosure for this sale can be found here. In the last three months, insiders sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.14% of the company's stock.
About Lockheed Martin
(
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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.
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