Lockheed Martin (NYSE:LMT) Updates FY23 Earnings Guidance

Lockheed Martin (NYSE:LMT – Get Rating) updated its FY23 earnings guidance on Tuesday. The company provided EPS guidance of ~$26.60-26.90 for the period, compared to the consensus EPS estimate of $26.83. The company issued revenue guidance of $65.0-66.0 billion, compared to the consensus revenue estimate of $65.75 billion.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wolfe Research began coverage on Lockheed Martin in a report on Monday, October 10th. They issued a peer perform rating for the company. Susquehanna decreased their price target on Lockheed Martin from $539.00 to $510.00 and set a positive rating on the stock in a research report on Wednesday, October 19th. Jefferies Financial Group raised their price objective on shares of Lockheed Martin from $500.00 to $525.00 in a research report on Monday, December 5th. Citigroup started coverage on shares of Lockheed Martin in a research note on Thursday, December 8th. They set a buy rating and a $546.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $450.00 to $505.00 and gave the company a neutral rating in a report on Monday, December 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $469.56.

Lockheed Martin Stock Down 0.5 %

LMT opened at $441.28 on Tuesday. Lockheed Martin has a 12 month low of $365.34 and a 12 month high of $498.95. The company has a current ratio of 1.28, a quick ratio of 1.09 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $475.02 and its 200-day moving average price is $443.89. The company has a market cap of $115.65 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.60 and a beta of 0.73.

Institutional Trading of Lockheed Martin

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Lockheed Martin by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,256,069 shares of the aerospace company’s stock valued at $2,320,030,000 after buying an additional 264,665 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Lockheed Martin by 586.8% during the first quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company’s stock worth $163,097,000 after purchasing an additional 315,700 shares during the period. National Pension Service grew its stake in shares of Lockheed Martin by 0.7% in the third quarter. National Pension Service now owns 361,015 shares of the aerospace company’s stock worth $140,720,000 after purchasing an additional 2,644 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Lockheed Martin by 28.4% during the 1st quarter. Ensign Peak Advisors Inc now owns 215,979 shares of the aerospace company’s stock valued at $95,334,000 after purchasing an additional 47,752 shares during the period. Finally, Mackenzie Financial Corp raised its position in Lockheed Martin by 20.4% during the 1st quarter. Mackenzie Financial Corp now owns 107,366 shares of the aerospace company’s stock valued at $47,391,000 after purchasing an additional 18,201 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Lockheed Martin Company Profile

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Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.