Lockheed Martin (NYSE:LMT) Issues Earnings Results

Lockheed Martin (NYSE:LMT) released its earnings results on Tuesday. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34, Briefing.com reports. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 earnings per share. Lockheed Martin updated its FY24 guidance to $26.65 EPS and its FY 2024 guidance to 26.650-26.650 EPS.

Lockheed Martin Trading Down 1.0 %

Shares of Lockheed Martin stock opened at $571.10 on Thursday. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The company’s fifty day simple moving average is $579.95 and its 200-day simple moving average is $513.50. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a market capitalization of $137.03 billion, a PE ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin Increases Dividend

The firm also recently announced 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 is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 48.30%.

Analysts Set New Price Targets

Several research analysts have issued reports on LMT shares. UBS Group lifted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird boosted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $606.71.

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.