Lockheed Martin (NYSE:LMT) Posts Quarterly Earnings Results

Lockheed Martin (NYSE:LMT) announced its quarterly earnings results on Tuesday. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34, Briefing.com reports. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the business earned $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Lockheed Martin updated its FY24 guidance to $26.65 EPS and its FY 2024 guidance to 26.650-26.650 EPS.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $2.23 during trading hours on Friday, hitting $566.44. 130,454 shares of the stock were exchanged, compared to its average volume of 1,050,291. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market capitalization of $135.91 billion, a P/E ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $618.95. The business’s 50-day moving average is $579.95 and its two-hundred day moving average is $513.50.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.33%. 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 dividend payout ratio is currently 48.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, UBS Group boosted their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently 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.