Brokers Offer Predictions for Lockheed Martin Co.’s FY2022 Earnings (NYSE:LMT)
Lockheed Martin Co. (NYSE:LMT – Get Rating) – Seaport Res Ptn raised their FY2022 earnings estimates for shares of Lockheed Martin in a research report issued to clients and investors on Sunday, November 27th. Seaport Res Ptn analyst R. Safran now expects that the aerospace company will post earnings of $26.97 per share for the year, up from their previous forecast of $26.93. The consensus estimate for Lockheed Martin’s current full-year earnings is $26.97 per share.
Lockheed Martin (NYSE:LMT – Get Rating) last posted its earnings results on Tuesday, October 18th. The aerospace company reported $6.87 earnings per share for the quarter, beating the consensus estimate of $6.63 by $0.24. The company had revenue of $16.58 billion for the quarter, compared to analyst estimates of $16.69 billion. Lockheed Martin had a net margin of 9.07% and a return on equity of 65.16%. Lockheed Martin’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $6.66 EPS.
Other equities analysts have also issued reports about the stock. Susquehanna Bancshares decreased their price objective on shares of Lockheed Martin from $539.00 to $510.00 and set a “positive” rating on the stock in a report on Wednesday, October 19th. Susquehanna decreased their price objective on shares of Lockheed Martin from $539.00 to $510.00 and set a “positive” rating on the stock in a report on Wednesday, October 19th. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $522.00 to $506.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th. Jefferies Financial Group upped their price objective on shares of Lockheed Martin from $450.00 to $500.00 and gave the stock a “hold” rating in a report on Thursday, November 17th. Finally, Royal Bank of Canada increased their target price on shares of Lockheed Martin from $420.00 to $445.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $464.83.
Lockheed Martin Stock Performance
Shares of LMT stock opened at $484.10 on Wednesday. The firm’s 50 day moving average price is $445.36 and its 200-day moving average price is $431.30. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.09 and a current ratio of 1.28. Lockheed Martin has a one year low of $328.20 and a one year high of $494.66. The firm has a market cap of $126.87 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.87 and a beta of 0.76.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of LMT. Capital World Investors grew its position in shares of Lockheed Martin by 19.0% in the 1st quarter. Capital World Investors now owns 16,021,414 shares of the aerospace company’s stock valued at $7,071,954,000 after buying an additional 2,558,881 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Lockheed Martin in the 1st quarter valued at $763,213,000. Vanguard Group Inc. grew its position in Lockheed Martin by 8.3% during the 1st quarter. Vanguard Group Inc. now owns 22,579,851 shares of the aerospace company’s stock worth $9,966,746,000 after purchasing an additional 1,727,343 shares during the last quarter. FMR LLC grew its position in Lockheed Martin by 39.9% during the 2nd quarter. FMR LLC now owns 5,966,076 shares of the aerospace company’s stock worth $2,565,175,000 after purchasing an additional 1,701,615 shares during the last quarter. Finally, Invesco Ltd. grew its position in Lockheed Martin by 49.6% during the 1st quarter. Invesco Ltd. now owns 1,858,507 shares of the aerospace company’s stock worth $820,347,000 after purchasing an additional 615,798 shares during the last quarter. 75.50% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Lockheed Martin
In other news, Director John Donovan acquired 568 shares of the company’s stock in a transaction on Thursday, October 20th. The shares were bought at an average cost of $441.43 per share, with a total value of $250,732.24. Following the transaction, the director now owns 1,768 shares in the company, valued at approximately $780,448.24. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.
Lockheed Martin Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 1st will be given a $3.00 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.80. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.48%. Lockheed Martin’s dividend payout ratio is currently 51.42%.
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, Rotary and Mission Systems, and Space.
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