Lockheed Martin (LMT) Scheduled to Post Earnings on Tuesday

Lockheed Martin (NYSE:LMT) is set to post its quarterly earnings results before the market opens on Tuesday, October 22nd. Analysts expect Lockheed Martin to post 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

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

Lockheed Martin stock opened at $611.71 on Tuesday. 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 firm has a market capitalization of $146.77 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company’s 50-day moving average is $573.36 and its 200 day moving average is $506.67. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $611.99.

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 dividend of $3.30 per share. 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. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LMT. Morgan Stanley raised their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised 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. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $587.15.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated 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 in the company, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

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.