Lockheed Martin Co. to Post FY2024 Earnings of $26.39 Per Share, Zacks Research Forecasts (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) – Equities researchers at Zacks Research lifted their FY2024 EPS estimates for Lockheed Martin in a note issued to investors on Tuesday, August 13th. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings per share of $26.39 for the year, up from their previous estimate of $26.06. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.71 per share. Zacks Research also issued estimates for Lockheed Martin’s FY2026 earnings at $30.61 EPS.

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

LMT has been the topic of several other research reports. Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and increased their price target for the company from $540.00 to $600.00 in a report on Friday, July 26th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price objective for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. UBS Group raised their price objective 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, Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average price target of $541.85.

Lockheed Martin Stock Performance

LMT stock traded down $0.43 during midday trading on Friday, hitting $559.86. 57,003 shares of the company traded hands, compared to its average volume of 1,080,943. Lockheed Martin has a twelve month low of $393.77 and a twelve month high of $564.22. 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 business has a 50 day simple moving average of $492.85 and a 200-day simple moving average of $463.41. The stock has a market capitalization of $134.33 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin 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 of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently made changes to their positions in the company. HTLF Bank boosted its stake in shares of Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC boosted its stake in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares in the last quarter. 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. Twin Lakes Capital Management LLC boosted its stake in shares of Lockheed Martin by 1.3% in the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock valued at $713,000 after purchasing an additional 20 shares in the last quarter. Finally, Goldstein Advisors LLC boosted its stake in shares of Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.