Lockheed Martin (NYSE:LMT) Releases FY 2024 Earnings Guidance

Lockheed Martin (NYSE:LMT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 26.650-26.650 for the period, compared to the consensus estimate of 26.380. The company issued revenue guidance of $71.3 billion-$71.3 billion, compared to the consensus revenue estimate of $71.1 billion. Lockheed Martin also updated its FY24 guidance to $26.65 EPS.

Lockheed Martin Price Performance

Shares of LMT traded down $31.82 during trading hours on Tuesday, hitting $582.79. 597,440 shares of the company were exchanged, compared to its average volume of 1,044,312. The company has a market capitalization of $139.83 billion, a PE ratio of 22.49, a PEG ratio of 4.84 and a beta of 0.47. 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 fifty day simple moving average of $579.45 and a 200-day simple moving average of $512.24. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $6.73 EPS. As a group, sell-side analysts predict that Lockheed Martin will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Analyst Upgrades and Downgrades

LMT has been the subject of several recent analyst reports. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. UBS Group raised their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $597.92.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.