Brokers Offer Predictions for Lockheed Martin Co.’s Q2 2024 Earnings (NYSE:LMT)

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

Other equities research analysts also recently issued reports about the company. Citigroup upped their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Susquehanna cut their price target on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada dropped their target price on shares of 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 raised their target price 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. Finally, Morgan Stanley dropped their price target on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and an average price target of $485.40.

View Our Latest Stock Analysis on LMT

Lockheed Martin Price Performance

Shares of LMT opened at $464.32 on Thursday. The firm has a market capitalization of $111.41 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 4.31 and a beta of 0.46. The stock’s fifty day moving average is $452.62 and its 200-day moving average is $446.49. Lockheed Martin has a one year low of $393.77 and a one year 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:LMTGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. During the same quarter in the previous year, the company posted $6.43 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year.

Lockheed Martin Dividend Announcement

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

Insider Buying and Selling

In related news, COO John Frank A. St sold 6,648 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,747,116.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. 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. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Lockheed Martin

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

Lockheed Martin Company Profile

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Lockheed Martin (NYSE:LMT)

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