Brokerages expect that Lockheed Martin Co. (NYSE:LMT) will announce $12.65 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Lockheed Martin’s earnings. The highest sales estimate is $13.45 billion and the lowest is $12.16 billion. Lockheed Martin posted sales of $11.64 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.7%. The firm is scheduled to report its next earnings report on Tuesday, April 23rd.
On average, analysts expect that Lockheed Martin will report full-year sales of $56.82 billion for the current fiscal year, with estimates ranging from $56.50 billion to $57.16 billion. For the next fiscal year, analysts anticipate that the business will report sales of $59.44 billion, with estimates ranging from $58.28 billion to $60.02 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Lockheed Martin.
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Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 29th. The aerospace company reported $4.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $4.39. Lockheed Martin had a return on equity of 726.78% and a net margin of 9.39%. The company had revenue of $14.41 billion during the quarter, compared to analyst estimates of $13.75 billion. During the same quarter last year, the business posted ($2.25) EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis.
Several research analysts have recently issued reports on LMT shares. Vertical Research upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $340.00 price objective for the company in a research note on Thursday, January 10th. Vertical Group raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Thursday, January 10th. Robert W. Baird reissued a “buy” rating and set a $326.00 price target on shares of Lockheed Martin in a research report on Friday, December 21st. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $366.00 price target for the company in a research report on Wednesday, October 24th. Finally, Citigroup reduced their target price on shares of Lockheed Martin from $400.00 to $338.00 and set a “buy” rating for the company in a report on Monday, January 14th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $350.00.
Shares of NYSE:LMT traded up $6.23 during trading on Monday, hitting $307.23. The stock had a trading volume of 847,491 shares, compared to its average volume of 1,322,362. Lockheed Martin has a 12-month low of $241.18 and a 12-month high of $363.00. The stock has a market cap of $86.81 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.26 and a beta of 1.02. The company has a quick ratio of 0.91, a current ratio of 1.12 and a debt-to-equity ratio of 8.70.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, February 28th. Lockheed Martin’s dividend payout ratio (DPR) is 49.30%.
In other news, insider Michele A. Evans sold 7,690 shares of Lockheed Martin stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $298.78, for a total transaction of $2,297,618.20. Following the completion of the transaction, the insider now directly owns 7,690 shares of the company’s stock, valued at approximately $2,297,618.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Richard F. Ambrose sold 6,647 shares of Lockheed Martin stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $301.34, for a total transaction of $2,003,006.98. Following the completion of the transaction, the executive vice president now directly owns 4,218 shares of the company’s stock, valued at approximately $1,271,052.12. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 10 15 Associates Inc. increased its stake in shares of Lockheed Martin by 1.4% in the 4th quarter. 10 15 Associates Inc. now owns 2,985 shares of the aerospace company’s stock valued at $782,000 after purchasing an additional 41 shares in the last quarter. Clarfeld Financial Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at about $34,000. Pinkerton Retirement Specialists LLC increased its position in shares of Lockheed Martin by 0.7% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 7,813 shares of the aerospace company’s stock valued at $2,046,000 after buying an additional 56 shares in the last quarter. Millennium Management LLC increased its position in shares of Lockheed Martin by 0.5% in the fourth quarter. Millennium Management LLC now owns 199,851 shares of the aerospace company’s stock valued at $52,329,000 after buying an additional 973 shares in the last quarter. Finally, Kaizen Advisory LLC increased its position in shares of Lockheed Martin by 10.3% in the fourth quarter. Kaizen Advisory LLC now owns 685 shares of the aerospace company’s stock valued at $179,000 after buying an additional 64 shares in the last quarter. 85.33% of the stock is owned by institutional investors.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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