Lockheed Martin (NYSE:LMT) Issues FY24 Earnings Guidance

Lockheed Martin (NYSE:LMT) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $25.65-26.35 for the period, compared to the consensus EPS estimate of $26.05. The company issued revenue guidance of $68.50-70.00 billion, compared to the consensus revenue estimate of $69.52 billion.

Analyst Ratings Changes

Several research firms have recently issued reports on LMT. Citigroup lowered their target price on shares of Lockheed Martin from $540.00 to $508.00 and set a buy rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley lowered their target price on shares of Lockheed Martin from $513.00 to $503.00 and set an equal weight rating on the stock in a research note on Wednesday, January 24th. UBS Group lowered their target price on shares of Lockheed Martin from $488.00 to $475.00 and set a neutral rating on the stock in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. Finally, JPMorgan Chase & Co. raised shares of Lockheed Martin from a neutral rating to an overweight rating and increased their target price for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of Hold and a consensus price target of $486.78.

Lockheed Martin Trading Up 1.1 %

Shares of Lockheed Martin stock opened at $466.40 on Tuesday. The firm has a market capitalization of $112.16 billion, a PE ratio of 16.75, a P/E/G ratio of 4.23 and a beta of 0.48. Lockheed Martin has a twelve month low of $393.77 and a twelve month high of $483.53. The firm’s 50-day moving average price is $440.67 and its 200 day moving average price is $443.62. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.64. The firm had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. Lockheed Martin’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $7.79 EPS. On average, sell-side analysts predict that Lockheed Martin will post 26.13 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.14% of the stock is owned by corporate 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.