Lockheed Martin Co. Expected to Earn Q2 2024 Earnings of $6.42 Per Share (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) – Equities research analysts at Seaport Res Ptn upped their Q2 2024 earnings per share estimates for Lockheed Martin in a report issued on Monday, May 13th. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will earn $6.42 per share for the quarter, up from their prior estimate of $6.29. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.15 per share.

Several other analysts also recently commented on LMT. Morgan Stanley dropped their price objective on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada cut their price objective on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, Susquehanna lowered their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and an average target price of $485.40.

Lockheed Martin Trading Down 0.6 %

LMT opened at $464.32 on Thursday. The firm’s fifty day moving average is $452.62 and its two-hundred day moving average is $446.49. The firm has a market cap of $111.41 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 4.31 and a beta of 0.46. Lockheed Martin has a twelve month low of $393.77 and a twelve month high of $479.50. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30.

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

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a dividend of $3.15 per share. The ex-dividend date is Monday, June 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.71%. Lockheed Martin’s dividend payout ratio is 46.10%.

Insider Activity

In related news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold 16,874 shares of company stock worth $7,249,946 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors have recently bought and sold shares of the business. First Pacific Financial acquired a new stake in Lockheed Martin during the 1st quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Lockheed Martin by 73.0% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 27 shares during the period. Altshuler Shaham Ltd acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $26,000. Activest Wealth Management boosted its holdings in shares of Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 60 shares during the period. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin in the first quarter valued at approximately $30,000. Institutional investors and hedge funds 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.