FY2024 EPS Forecast for Lockheed Martin Increased by Analyst

Lockheed Martin Co. (NYSE:LMT) – Research analysts at Seaport Res Ptn lifted their FY2024 EPS estimates for shares of Lockheed Martin in a report issued on Wednesday, October 23rd. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will earn $26.89 per share for the year, up from their prior estimate of $26.71. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.65 per share.

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

A number of other equities research analysts have also issued reports on LMT. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird lifted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, UBS Group upped their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Stock Down 0.3 %

Shares of NYSE LMT opened at $562.29 on Friday. The stock has a fifty day moving average price of $580.07 and a 200 day moving average price of $515.08. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a market cap of $134.03 billion, a P/E ratio of 20.36, a P/E/G ratio of 4.62 and a beta of 0.47.

Institutional Trading of Lockheed Martin

Hedge funds have recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the 2nd quarter valued at approximately $27,000. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC grew its position in 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 in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin during the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC raised its position in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given 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 a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

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.