Lockheed Martin FY2024 EPS Forecast Raised by Zacks Research

Lockheed Martin Co. (NYSE:LMT) – Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Lockheed Martin in a research note issued to investors on Wednesday, December 18th. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings per share of $26.68 for the year, up from their previous forecast of $26.65. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.88 per share. Zacks Research also issued estimates for Lockheed Martin’s Q1 2025 earnings at $6.65 EPS, Q3 2025 earnings at $7.22 EPS, Q4 2025 earnings at $6.90 EPS, FY2025 earnings at $28.05 EPS, Q3 2026 earnings at $7.56 EPS and FY2026 earnings at $29.61 EPS.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business posted $6.77 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis.

Several other equities analysts have also weighed in on the company. Susquehanna cut their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their target price on shares of Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Price Performance

NYSE LMT opened at $479.66 on Friday. The stock has a market capitalization of $113.70 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The company has a 50 day moving average price of $543.35 and a two-hundred day moving average price of $532.64. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently bought and sold shares of LMT. Geode Capital Management LLC increased its stake in Lockheed Martin by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after acquiring an additional 83,997 shares during the period. FMR LLC boosted its holdings in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after buying an additional 31,545 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.75%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 47.79%.

About Lockheed Martin

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.