Lockheed Martin (NYSE:LMT – Get Free Report) posted its quarterly earnings results on Tuesday. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53, Briefing.com reports. The firm had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.43 earnings per share. Lockheed Martin updated its FY24 guidance to $25.65-26.35 EPS and its FY 2024 guidance to 25.650-26.350 EPS.
Lockheed Martin Stock Down 0.5 %
Shares of NYSE LMT traded down $2.36 during mid-day trading on Wednesday, hitting $457.72. The company had a trading volume of 104,963 shares, compared to its average volume of 1,163,435. The company has a market capitalization of $110.08 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $480.92. The business’s 50-day simple moving average is $441.34 and its 200 day simple moving average is $444.04.
Insider Activity at Lockheed Martin
In related news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders have sold 16,874 shares of company stock valued at $7,249,946 over the last quarter. 0.14% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
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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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.
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