Seaport Res Ptn Weighs in on Lockheed Martin FY2024 Earnings

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

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the business posted $6.77 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis.

A number of other research firms also recently issued reports on LMT. Susquehanna dropped their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $562.29 on Friday. The stock’s 50-day moving average is $580.07 and its two-hundred day moving average is $515.08. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $618.95. The firm has a market cap of $134.03 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stokes Family Office LLC acquired a new stake in Lockheed Martin in the 1st quarter valued at about $425,000. Hennessy Advisors Inc. acquired a new stake in shares of Lockheed Martin in the first quarter valued at approximately $2,775,000. Kathmere Capital Management LLC increased its stake in shares of Lockheed Martin by 33.4% during the 1st quarter. Kathmere Capital Management LLC now owns 2,947 shares of the aerospace company’s stock worth $1,341,000 after purchasing an additional 738 shares in the last quarter. Financial Management Professionals Inc. raised its position in shares of Lockheed Martin by 10.6% during the 1st quarter. Financial Management Professionals Inc. now owns 1,229 shares of the aerospace company’s stock worth $559,000 after purchasing an additional 118 shares during the last quarter. Finally, Webster Bank N. A. lifted its stake in Lockheed Martin by 34.7% in the 1st quarter. Webster Bank N. A. now owns 194 shares of the aerospace company’s stock valued at $88,000 after buying an additional 50 shares in the last quarter. 74.19% of the stock is 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.