Lockheed Martin (LMT) Posts Quarterly Earnings Results, Beats Expectations By $0.67 EPS

Lockheed Martin (NYSE:LMT) announced its earnings results on Tuesday. The aerospace company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.35 by $0.67, Bloomberg Earnings reports. Lockheed Martin had a return on equity of 354.55% and a net margin of 3.92%. The firm had revenue of $11.64 billion during the quarter, compared to analyst estimates of $11.25 billion. During the same period last year, the firm posted $3.00 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Lockheed Martin updated its FY18 guidance to $15.80-16.10 EPS.

Shares of LMT opened at $358.60 on Tuesday. Lockheed Martin has a fifty-two week low of $266.01 and a fifty-two week high of $363.00. The stock has a market capitalization of $100,518.06, a P/E ratio of 26.90, a PEG ratio of 3.09 and a beta of 0.72. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of -22.19.

In other Lockheed Martin news, insider Richard F. Ambrose sold 7,517 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $357.89, for a total value of $2,690,259.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Marillyn A. Hewson sold 19,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $346.74, for a total value 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. Company insiders own 0.35% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of LMT. Buckingham Capital Management Inc. bought a new position in Lockheed Martin in the 3rd quarter worth about $208,000. D.B. Root & Company LLC bought a new position in Lockheed Martin in the 4th quarter worth about $971,000. Certified Advisory Corp bought a new position in Lockheed Martin in the 4th quarter worth about $1,362,000. Fairfield Bush & CO. boosted its stake in Lockheed Martin by 34.5% in the 4th quarter. Fairfield Bush & CO. now owns 4,480 shares of the aerospace company’s stock worth $1,438,000 after purchasing an additional 1,150 shares during the period. Finally, Elkfork Partners LLC bought a new position in Lockheed Martin in the 4th quarter worth about $2,113,000. Institutional investors and hedge funds own 78.49% of the company’s stock.

LMT has been the subject of several research analyst reports. Vetr lowered Lockheed Martin from a “buy” rating to a “hold” rating and set a $332.40 target price for the company. in a research report on Thursday, January 4th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Lockheed Martin in a research report on Friday, January 19th. Zacks Investment Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $373.00 target price for the company in a research report on Friday, January 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $388.00 target price (up from $382.00) on shares of Lockheed Martin in a research report on Friday, February 23rd. Finally, Royal Bank of Canada set a $348.00 target price on Lockheed Martin and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $374.14.

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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.

Earnings History for Lockheed Martin (NYSE:LMT)

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