Lockheed Martin (NYSE:LMT) Posts Quarterly Earnings Results, Beats Estimates By $0.53 EPS

Lockheed Martin (NYSE:LMT) released its earnings results on Tuesday. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53, Briefing.com reports. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The company had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same period in the prior year, the business earned $6.43 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. Lockheed Martin updated its FY24 guidance to $25.65-26.35 EPS and its FY 2024 guidance to 25.650-26.350 EPS.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $459.13 on Thursday. The business’s fifty day moving average price is $442.16 and its two-hundred day moving average price is $444.14. Lockheed Martin has a one year low of $393.77 and a one year high of $480.92. The stock has a market cap of $110.42 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.03 and a current ratio of 1.30.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup boosted their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the company from $475.00 to $518.00 in a report on Monday, April 15th. Susquehanna decreased their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. Finally, Morgan Stanley decreased their price target on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average target price of $479.90.

Insiders Place Their Bets

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders have sold 16,874 shares of company stock valued at $7,249,946 in the last ninety days. Insiders own 0.17% of the company’s stock.

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.