FY2024 EPS Estimates for Lockheed Martin Co. Boosted by Zacks Research (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) – Equities research analysts at Zacks Research upped their FY2024 earnings estimates for shares of Lockheed Martin in a report issued on Wednesday, October 2nd. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings of $26.60 per share for the year, up from their previous estimate of $26.39. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.65 per share. Zacks Research also issued estimates for Lockheed Martin’s Q4 2024 earnings at $6.61 EPS, Q3 2025 earnings at $6.97 EPS, Q1 2026 earnings at $7.32 EPS, Q2 2026 earnings at $7.58 EPS and Q3 2026 earnings at $7.18 EPS.

Other equities analysts also recently issued reports about the company. Bank of America reiterated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. JPMorgan Chase & Co. raised their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $568.31.

Lockheed Martin Stock Performance

LMT stock opened at $605.57 on Monday. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $611.59. The stock has a market capitalization of $145.30 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 4.66 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock’s fifty day moving average is $565.71 and its two-hundred day moving average is $500.06.

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

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 46.10%.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently bought and sold shares of LMT. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter valued at $27,000. Sachetta LLC increased its position in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC raised its stake in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC grew its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.