Lockheed Martin (NYSE:LMT) Issues FY24 Earnings Guidance

Lockheed Martin (NYSE:LMT) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $25.65-26.35 for the period, compared to the consensus EPS estimate of $26.05. The company issued revenue guidance of $68.50-70.00 billion, compared to the consensus revenue estimate of $69.52 billion. Lockheed Martin also updated its FY 2024 guidance to 25.650-26.350 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a buy rating in a research note on Wednesday. The Goldman Sachs Group dropped their price target on Lockheed Martin from $380.00 to $377.00 and set a sell rating for the company in a research note on Tuesday. Wells Fargo & Company upped their price target on Lockheed Martin from $460.00 to $480.00 and gave the stock an equal weight rating in a research note on Thursday. Morgan Stanley dropped their price target on Lockheed Martin from $513.00 to $503.00 and set an equal weight rating for the company in a research note on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $467.00 to $487.00 and gave the stock a hold rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $485.40.

Lockheed Martin Stock Up 1.3 %

Shares of LMT opened at $465.19 on Friday. The company has a market cap of $111.62 billion, a PE ratio of 17.02, a P/E/G ratio of 4.20 and a beta of 0.48. The business has a fifty day moving average of $443.00 and a 200 day moving average of $444.29. Lockheed Martin has a 52-week low of $393.77 and a 52-week high of $479.50. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The company had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. Lockheed Martin’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the company earned $6.43 earnings per share. On average, sell-side analysts expect that Lockheed Martin will post 26.04 EPS for the current year.

Insider Buying and Selling

In related news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock worth $7,249,946 over the last three months. 0.17% of the stock is owned by insiders.

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.