Lockheed Martin (LMT) Scheduled to Post Quarterly Earnings on Tuesday

Lockheed Martin (NYSE:LMT) is set to issue its quarterly earnings data before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $6.40 per share for the quarter. Lockheed Martin has set its FY24 guidance at $26.10-26.60 EPS and its FY 2024 guidance at 26.100-26.600 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates 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 was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.73 earnings per share. On average, analysts expect Lockheed Martin to post $27 EPS for the current fiscal year and $29 EPS for the next fiscal year.

Lockheed Martin Price Performance

NYSE:LMT opened at $611.81 on Monday. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $614.62. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market cap of $146.80 billion, a P/E ratio of 22.39, a PEG ratio of 4.84 and a beta of 0.47. The business’s 50-day moving average price is $578.29 and its 200 day moving average price is $511.11.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.16%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 48.30%.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LMT shares. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Morgan Stanley raised their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $597.92.

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.