Lockheed Martin (NYSE:LMT – Get Free Report) announced its earnings results on Tuesday. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34, Briefing.com reports. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $6.77 earnings per share. Lockheed Martin updated its FY24 guidance to $26.65 EPS and its FY 2024 guidance to 26.650-26.650 EPS.
Lockheed Martin Stock Performance
NYSE LMT traded up $2.23 during trading hours on Friday, reaching $566.44. The company’s stock had a trading volume of 130,454 shares, compared to its average volume of 1,050,291. The business has a 50-day simple moving average of $579.95 and a 200 day simple moving average of $513.50. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $618.95. The stock has a market cap of $135.91 billion, a PE ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.
Lockheed Martin Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.33%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on Lockheed Martin
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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.
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