Lockheed Martin (NYSE:LMT) Releases FY24 Earnings Guidance

Lockheed Martin (NYSE:LMT) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $26.65 for the period, compared to the consensus estimate of $26.53. The company issued revenue guidance of approx $71.25 billion, compared to the consensus revenue estimate of $71.23 billion. Lockheed Martin also updated its FY 2024 guidance to 26.650-26.650 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LMT shares. Susquehanna raised their price target on shares of Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. 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. Citigroup lifted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $597.92.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $606.20 on Tuesday. The stock has a market capitalization of $145.45 billion, a P/E ratio of 22.49, a PEG ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The business’s fifty day moving average price is $579.45 and its 200 day moving average price is $512.24. Lockheed Martin has a twelve month low of $413.92 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.73 EPS. As a group, research analysts anticipate that Lockheed Martin will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.18%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 48.30%.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.17% 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.