Lockheed Martin (LMT) Releases Earnings Results, Beats Estimates By $0.24 EPS

Lockheed Martin (NYSE:LMT) posted its quarterly earnings data on Monday, January 29th. The aerospace company reported $4.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.06 by $0.24, Bloomberg Earnings reports. The business had revenue of $15.14 billion for the quarter, compared to the consensus estimate of $14.72 billion. Lockheed Martin had a net margin of 3.92% and a return on equity of 354.55%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $3.25 earnings per share. Lockheed Martin updated its FY18 guidance to $15.20-15.50 EPS.

Shares of Lockheed Martin (LMT) opened at $356.51 on Thursday. Lockheed Martin has a 12-month low of $262.73 and a 12-month high of $361.79. The firm has a market cap of $101,280.00, a PE ratio of 26.96, a price-to-earnings-growth ratio of 3.09 and a beta of 0.73. The company has a debt-to-equity ratio of -22.19, a quick ratio of 1.03 and a current ratio of 1.38.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Thursday, March 1st will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Wednesday, February 28th. Lockheed Martin’s dividend payout ratio is presently 60.47%.

Several equities analysts have recently weighed in on the stock. Argus raised their price target on shares of Lockheed Martin from $340.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Buckingham Research raised their price target on shares of Lockheed Martin from $348.00 to $403.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. ValuEngine raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Citigroup raised their price target on shares of Lockheed Martin from $355.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, Cowen restated a “hold” rating and set a $370.00 price objective on shares of Lockheed Martin in a research report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $372.53.

In related news, insider Dale P. Bennett sold 2,000 shares of Lockheed Martin stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $313.75, for a total value of $627,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Marillyn A. Hewson sold 19,000 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $346.74, for a total transaction of $6,588,060.00. Following the completion of the transaction, the chairman now owns 80,478 shares of the company’s stock, valued at approximately $27,904,941.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,517 shares of company stock valued at $9,905,819. Company insiders own 0.39% of the company’s stock.

A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. purchased a new position in Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors and hedge funds own 79.07% of the company’s stock.

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Lockheed Martin Company Profile

Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.

Earnings History for Lockheed Martin (NYSE:LMT)

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