Lockheed Martin Co. (NYSE:LMT) Forecasted to Post FY2023 Earnings of $27.05 Per Share

Posted by Defense World Staff on Sep 11th, 2023

Lockheed Martin Co. (NYSE:LMT – Free Report) – Seaport Res Ptn lifted their FY2023 earnings estimates for Lockheed Martin in a research report issued to clients and investors on Thursday, September 7th. Seaport Res Ptn analyst R. Safran now expects that the aerospace company will earn $27.05 per share for the year, up from their previous forecast of $26.86. The consensus estimate for Lockheed Martin’s current full-year earnings is $27.07 per share. Seaport Res Ptn also issued estimates for Lockheed Martin’s Q4 2023 earnings at $7.24 EPS, Q3 2024 earnings at $7.21 EPS and Q4 2024 earnings at $7.88 EPS.

Several other research firms have also recently issued reports on LMT. Susquehanna decreased their price objective on shares of Lockheed Martin from $575.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, July 19th. StockNews.com initiated coverage on shares of Lockheed Martin in a report on Thursday, August 17th. They issued a “buy” rating for the company. Citigroup decreased their price objective on shares of Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Royal Bank of Canada reduced their target price on shares of Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating for the company in a report on Wednesday, July 19th. Finally, Wells Fargo & Company raised their target price on shares of Lockheed Martin from $433.00 to $440.00 in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $499.43.

Check Out Our Latest Research Report on Lockheed Martin

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $423.09 on Monday. The firm’s 50 day moving average is $451.74 and its two-hundred day moving average is $461.92. Lockheed Martin has a 52 week low of $381.55 and a 52 week high of $508.10. The firm has a market capitalization of $106.55 billion, a P/E ratio of 15.47, a PEG ratio of 2.42 and a beta of 0.65. The company has a current ratio of 1.36, a quick ratio of 1.16 and a debt-to-equity ratio of 1.87.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $6.73 EPS for the quarter, beating the consensus estimate of $6.45 by $0.28. Lockheed Martin had a net margin of 10.48% and a return on equity of 71.67%. The company had revenue of $16.69 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same quarter last year, the business earned $6.32 earnings per share. Lockheed Martin’s revenue was up 8.1% compared to the same quarter last year.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mcdonald Partners LLC lifted its position in Lockheed Martin by 1.1% in the 1st quarter. Mcdonald Partners LLC now owns 1,865 shares of the aerospace company’s stock worth $882,000 after buying an additional 20 shares in the last quarter. Amplius Wealth Advisors LLC lifted its position in Lockheed Martin by 2.6% in the 1st quarter. Amplius Wealth Advisors LLC now owns 815 shares of the aerospace company’s stock worth $385,000 after buying an additional 21 shares in the last quarter. Alhambra Investment Partners LLC raised its holdings in shares of Lockheed Martin by 4.8% during the 1st quarter. Alhambra Investment Partners LLC now owns 476 shares of the aerospace company’s stock valued at $225,000 after purchasing an additional 22 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in shares of Lockheed Martin by 0.7% during the 2nd quarter. Janiczek Wealth Management LLC now owns 3,262 shares of the aerospace company’s stock valued at $1,502,000 after purchasing an additional 22 shares in the last quarter. Finally, Accel Wealth Management raised its holdings in shares of Lockheed Martin by 2.9% during the 2nd quarter. Accel Wealth Management now owns 784 shares of the aerospace company’s stock valued at $361,000 after purchasing an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Insider Buying and Selling

In related news, Director John Donovan bought 548 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was bought at an average price of $457.07 per share, for a total transaction of $250,474.36. Following the transaction, the director now directly owns 3,378 shares in the company, valued at $1,543,982.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 1st will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Thursday, August 31st. Lockheed Martin’s dividend payout ratio is 43.88%.

Lockheed Martin Company Profile

(Get Free Report)

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.