Lockheed Martin (NYSE:LMT) Releases FY23 Earnings Guidance

Lockheed Martin (NYSE:LMT – Get Rating) issued an update on its FY23 earnings guidance on Tuesday morning. 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.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $441.28 on Tuesday. The company has a 50 day simple moving average of $475.02 and a two-hundred day simple moving average of $443.89. Lockheed Martin has a fifty-two week low of $365.34 and a fifty-two week high of $498.95. The company has a market capitalization of $115.65 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 2.60 and a beta of 0.73. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.09 and a current ratio of 1.28.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wolfe Research began coverage on Lockheed Martin in a report on Monday, October 10th. They issued a peer perform rating on the stock. Jefferies Financial Group raised their price objective on shares of Lockheed Martin from $500.00 to $525.00 in a research note on Monday, December 5th. Royal Bank of Canada increased their price target on shares of Lockheed Martin from $420.00 to $445.00 and gave the company a sector perform rating in a report on Wednesday, October 19th. Robert W. Baird raised Lockheed Martin from a neutral rating to an outperform rating and set a $513.00 price objective on the stock in a research report on Wednesday, October 19th. Finally, Morgan Stanley lowered Lockheed Martin from an overweight rating to an equal weight rating and lifted their target price for the stock from $506.00 to $542.00 in a report on Thursday, December 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $469.56.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in Lockheed Martin by 586.8% in the first quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company’s stock worth $163,097,000 after acquiring an additional 315,700 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 5.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,256,069 shares of the aerospace company’s stock worth $2,320,030,000 after purchasing an additional 264,665 shares during the period. Renaissance Group LLC bought a new position in Lockheed Martin in the 1st quarter worth $29,200,000. Worldquant Millennium Advisors LLC lifted its position in Lockheed Martin by 211.5% during the first quarter. Worldquant Millennium Advisors LLC now owns 77,771 shares of the aerospace company’s stock valued at $34,328,000 after purchasing an additional 52,805 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in Lockheed Martin by 28.4% during the first 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. Hedge funds and other institutional investors own 75.18% of the company’s stock.

About Lockheed Martin

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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.