Lockheed Martin Co. (LMT) Expected to Post Quarterly Sales of $14.16 Billion

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Brokerages expect Lockheed Martin Co. (NYSE:LMT) to report $14.16 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Lockheed Martin’s earnings, with the lowest sales estimate coming in at $13.96 billion and the highest estimate coming in at $14.31 billion. Lockheed Martin posted sales of $13.40 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The business is scheduled to report its next earnings report on Tuesday, July 23rd.

On average, analysts expect that Lockheed Martin will report full year sales of $57.65 billion for the current fiscal year, with estimates ranging from $56.50 billion to $58.46 billion. For the next fiscal year, analysts expect that the business will post sales of $60.26 billion, with estimates ranging from $58.28 billion to $61.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Lockheed Martin.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $5.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.29 by $1.70. Lockheed Martin had a return on equity of 415.92% and a net margin of 9.91%. The firm had revenue of $14.34 billion during the quarter, compared to the consensus estimate of $12.48 billion. During the same period in the prior year, the company earned $4.02 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year.

A number of equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Lockheed Martin from $365.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Bank of America reissued a “buy” rating and set a $400.00 target price (up previously from $390.00) on shares of Lockheed Martin in a research note on Wednesday, April 24th. Cowen reissued a “buy” rating and set a $360.00 target price on shares of Lockheed Martin in a research note on Wednesday, April 24th. Zacks Investment Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price for the company in a research note on Thursday, April 25th. Finally, Barclays lifted their target price on shares of Lockheed Martin from $340.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $355.13.

In other Lockheed Martin news, SVP Maryanne Lavan sold 5,515 shares of Lockheed Martin stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $306.31, for a total value of $1,689,299.65. Following the completion of the sale, the senior vice president now directly owns 6,835 shares of the company’s stock, valued at $2,093,628.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Marillyn A. Hewson sold 59,434 shares of Lockheed Martin stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $306.60, for a total transaction of $18,222,464.40. Following the completion of the sale, the chairman now directly owns 109,531 shares of the company’s stock, valued at $33,582,204.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,949 shares of company stock valued at $22,403,743. Insiders own 0.35% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PFG Advisors bought a new stake in shares of Lockheed Martin in the 4th quarter valued at about $886,000. California Public Employees Retirement System raised its stake in Lockheed Martin by 40.6% in the 4th quarter. California Public Employees Retirement System now owns 1,294,842 shares of the aerospace company’s stock valued at $339,041,000 after purchasing an additional 373,997 shares during the last quarter. Schulhoff & Co. Inc. raised its stake in Lockheed Martin by 1.6% in the 4th quarter. Schulhoff & Co. Inc. now owns 13,088 shares of the aerospace company’s stock valued at $3,427,000 after purchasing an additional 205 shares during the last quarter. EFG Asset Management Americas Corp. raised its stake in Lockheed Martin by 70.7% in the 1st quarter. EFG Asset Management Americas Corp. now owns 3,059 shares of the aerospace company’s stock valued at $918,000 after purchasing an additional 1,267 shares during the last quarter. Finally, Eastern Bank raised its stake in Lockheed Martin by 0.6% in the 4th quarter. Eastern Bank now owns 11,919 shares of the aerospace company’s stock valued at $3,120,000 after purchasing an additional 74 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

NYSE LMT traded up $2.49 during trading on Monday, hitting $338.66. 552,240 shares of the company traded hands, compared to its average volume of 1,233,483. Lockheed Martin has a 12 month low of $241.18 and a 12 month high of $351.35. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.17 and a quick ratio of 0.96. The firm has a market cap of $94.76 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 2.33 and a beta of 1.04.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $2.20 dividend. This represents a $8.80 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, May 31st. Lockheed Martin’s dividend payout ratio (DPR) is currently 49.30%.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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