Lockheed Martin Co. (NYSE:LMT – Free Report) – Equities research analysts at Seaport Res Ptn lowered their Q3 2023 earnings per share estimates for Lockheed Martin in a research note issued to investors on Wednesday, September 20th. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will earn $6.61 per share for the quarter, down from their prior estimate of $6.65. 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 $7.27 EPS, Q3 2024 earnings at $7.14 EPS and Q4 2024 earnings at $7.76 EPS.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its earnings results on Tuesday, July 18th. The aerospace company reported $6.73 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.28. Lockheed Martin had a return on equity of 71.67% and a net margin of 10.48%. The firm had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $15.92 billion. During the same quarter in the prior year, the business earned $6.32 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year.
Check Out Our Latest Stock Analysis on LMT
Lockheed Martin Stock Down 0.9 %
Shares of LMT opened at $413.84 on Friday. Lockheed Martin has a 52 week low of $381.55 and a 52 week high of $508.10. The company has a quick ratio of 1.16, a current ratio of 1.36 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $104.22 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 2.43 and a beta of 0.65. The stock’s 50-day moving average price is $444.65 and its 200-day moving average price is $458.73.
Insider Buying and Selling at Lockheed Martin
In other news, Director John Donovan bought 548 shares of Lockheed Martin stock in a transaction on Wednesday, July 19th. The stock was acquired at an average price of $457.07 per share, with a total value of $250,474.36. Following the completion of the acquisition, the director now directly owns 3,378 shares of the company’s stock, valued at $1,543,982.46. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.
Institutional Investors Weigh In On Lockheed Martin
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in Lockheed Martin by 0.5% during the first quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock worth $17,950,761,000 after acquiring an additional 176,739 shares during the last quarter. FMR LLC boosted its position in shares of Lockheed Martin by 3.4% during the first quarter. FMR LLC now owns 7,497,698 shares of the aerospace company’s stock worth $3,544,387,000 after buying an additional 244,251 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Lockheed Martin by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,849,054 shares of the aerospace company’s stock worth $2,821,626,000 after buying an additional 382,510 shares during the period. Geode Capital Management LLC boosted its position in shares of Lockheed Martin by 2.5% during the second quarter. Geode Capital Management LLC now owns 4,451,163 shares of the aerospace company’s stock worth $2,045,055,000 after buying an additional 106,461 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Lockheed Martin by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 2,419,579 shares of the aerospace company’s stock worth $1,139,469,000 after buying an additional 85,913 shares during the period. Institutional investors and hedge funds own 74.26% 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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
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