Q1 2024 Earnings Estimate for Lockheed Martin Co. (NYSE:LMT) Issued By Seaport Res Ptn

Lockheed Martin Co. (NYSE:LMT – Free Report) – Equities research analysts at Seaport Res Ptn raised their Q1 2024 earnings per share estimates for Lockheed Martin in a report released on Wednesday, September 20th. Seaport Res Ptn analyst R. Safran now anticipates that the aerospace company will earn $6.42 per share for the quarter, up from their prior estimate of $6.37. 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 Q2 2024 earnings at $6.76 EPS.

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Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings data 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 company posted $6.32 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis.

Other equities analysts also recently issued research reports about the company. Citigroup lowered their price target on Lockheed Martin from $579.00 to $555.00 in a report on Wednesday, July 19th. Susquehanna lowered their price target on Lockheed Martin from $575.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, July 19th. Royal Bank of Canada lowered their price target on Lockheed Martin from $500.00 to $475.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 19th. Morgan Stanley reiterated an “equal weight” rating and set a $532.00 price target on shares of Lockheed Martin in a report on Wednesday, July 19th. Finally, StockNews.com started coverage on Lockheed Martin in a research report on Thursday, August 17th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus price target of $499.43.

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Lockheed Martin Trading Down 0.9 %

Shares of LMT stock opened at $413.65 on Monday. Lockheed Martin has a 12 month low of $381.55 and a 12 month 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 business’s 50 day moving average is $443.64 and its two-hundred day moving average is $458.13. The company has a market cap of $104.17 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 2.35 and a beta of 0.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LMT. Moneta Group Investment Advisors LLC lifted its holdings in shares of Lockheed Martin by 81,305.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock valued at $927,896,000 after acquiring an additional 1,904,985 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Lockheed Martin by 197.7% during the first quarter. Envestnet Asset Management Inc. now owns 1,495,056 shares of the aerospace company’s stock valued at $253,332,000 after acquiring an additional 992,835 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Lockheed Martin by 426.6% during the second quarter. Osaic Holdings Inc. now owns 1,203,558 shares of the aerospace company’s stock valued at $104,767,000 after acquiring an additional 975,012 shares during the period. Bank of Montreal Can bought a new position in shares of Lockheed Martin during the second quarter valued at $351,143,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $2,821,626,000 after acquiring an additional 382,510 shares during the period. 74.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John Donovan bought 548 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 19th. The stock was purchased at an average cost of $457.07 per share, with a total value of $250,474.36. Following the completion of the transaction, the director now directly owns 3,378 shares in the company, valued at $1,543,982.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Lockheed Martin Company Profile

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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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