Lockheed Martin Co. (NYSE:LMT) Expected to Post Q2 2023 Earnings of $6.23 Per Share

Posted by Defense World Staff on May 4th, 2023

Lockheed Martin Co. (NYSE:LMT – Get Rating) – Stock analysts at Zacks Research decreased their Q2 2023 earnings per share (EPS) estimates for shares of Lockheed Martin in a report released on Tuesday, May 2nd. Zacks Research analyst A. Dutta now anticipates that the aerospace company will post earnings of $6.23 per share for the quarter, down from their previous estimate of $6.37. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.75 per share. Zacks Research also issued estimates for Lockheed Martin’s Q3 2023 earnings at $6.82 EPS, Q4 2023 earnings at $7.19 EPS, Q2 2024 earnings at $6.48 EPS, Q3 2024 earnings at $7.11 EPS, Q4 2024 earnings at $7.29 EPS, FY2024 earnings at $27.70 EPS, Q1 2025 earnings at $7.85 EPS and FY2025 earnings at $28.28 EPS.

Other analysts also recently issued reports about the company. Robert W. Baird downgraded Lockheed Martin from an “outperform” rating to a “neutral” rating and set a $513.00 target price for the company. in a research note on Wednesday, April 12th. Susquehanna boosted their price target on shares of Lockheed Martin from $510.00 to $512.00 and gave the company a “positive” rating in a research note on Wednesday, January 25th. Morgan Stanley reduced their price objective on Lockheed Martin from $542.00 to $532.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 25th. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $422.00 to $419.00 and set an “underweight” rating for the company in a research note on Wednesday, April 19th. Finally, Credit Suisse Group boosted their target price on Lockheed Martin from $510.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $494.79.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $453.07 on Wednesday. The firm has a market cap of $114.74 billion, a PE ratio of 20.71, a P/E/G ratio of 2.83 and a beta of 0.67. Lockheed Martin has a twelve month low of $373.67 and a twelve month high of $508.10. The business has a 50-day moving average price of $478.31 and a 200 day moving average price of $474.03. The company has a quick ratio of 1.10, a current ratio of 1.30 and a debt-to-equity ratio of 1.61.

Lockheed Martin (NYSE:LMT – Get Rating) last posted its quarterly earnings data on Tuesday, April 18th. The aerospace company reported $6.43 earnings per share for the quarter, topping analysts’ consensus estimates of $6.08 by $0.35. The firm had revenue of $15.13 billion during the quarter, compared to analysts’ expectations of $15.01 billion. Lockheed Martin had a return on equity of 67.75% and a net margin of 8.60%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $6.44 EPS.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Thursday, June 1st will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Wednesday, May 31st. Lockheed Martin’s payout ratio is presently 54.84%.

Insider Activity at Lockheed Martin

In other news, EVP Stephanie C. Hill sold 2,391 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $490.84, for a total value of $1,173,598.44. Following the transaction, the executive vice president now directly owns 12,604 shares of the company’s stock, valued at approximately $6,186,547.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lockheed Martin news, EVP Stephanie C. Hill sold 2,391 shares of the stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $490.84, for a total transaction of $1,173,598.44. Following the sale, the executive vice president now owns 12,604 shares of the company’s stock, valued at approximately $6,186,547.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy S. Cahill sold 2,534 shares of Lockheed Martin stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $479.44, for a total transaction of $1,214,900.96. Following the sale, the executive vice president now owns 10,460 shares of the company’s stock, valued at approximately $5,014,942.40. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LMT. Regal Investment Advisors LLC grew its stake in Lockheed Martin by 7.7% in the 3rd quarter. Regal Investment Advisors LLC now owns 626 shares of the aerospace company’s stock valued at $242,000 after buying an additional 45 shares during the last quarter. TD Asset Management Inc. grew its holdings in shares of Lockheed Martin by 11.2% during the third quarter. TD Asset Management Inc. now owns 111,720 shares of the aerospace company’s stock worth $43,547,000 after purchasing an additional 11,212 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Lockheed Martin by 10.0% during the fourth quarter. Signaturefd LLC now owns 5,484 shares of the aerospace company’s stock worth $2,668,000 after purchasing an additional 500 shares during the period. KCM Investment Advisors LLC raised its position in shares of Lockheed Martin by 12.0% during the fourth quarter. KCM Investment Advisors LLC now owns 5,900 shares of the aerospace company’s stock worth $2,870,000 after acquiring an additional 633 shares during the last quarter. Finally, Douglas Lane & Associates LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $224,000. 75.18% of the stock is currently owned by institutional investors.

Lockheed Martin Company Profile

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Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.