Lockheed Martin(LMT) ZACKS·2024-12-11 15:35Share Price Performance - Lockheed Martin Corp (LMT) gained 13 2% in share price in 2024 outperforming the Zacks aerospace-defense industry's decline of 10 8% and the broader Zacks Aerospace sector's fall of 2% [1] - LMT outperformed defense peers General Dynamics (GD) and Northrop Grumman (NOC) which rose 4 1% and 2 6% respectively while Boeing (BA) lost 37% [3] Growth Catalysts - Global conflicts such as the Russia-Ukraine war and Middle East unrest have driven increased defense spending benefiting LMT [4] - European NATO members increased defense budget allocation for procurement and R&D to 32% in 2024 up from 15% a decade ago [6] - India raised its defense budget by 4 5% to 18 million engineering facility in North Alabama and an advanced manufacturing center in Texas in 2024 [5] Financial Performance - LMT's operating cash flow rose 7 1% year over year to 2 28 billion in dividends and repurchased 5 7 million shares valued at 10 3 billion in remaining authorization for share repurchases [8] - LMT's return on equity (ROE) outperforms the industry average [9] Backlog and Contracts - LMT's backlog stood at 74 08 billion with a year-over-year growth estimate of 3 94% [12] - Zacks Consensus Estimate for 2025 earnings is 607 33 representing a 19 08% upside from the last closing price of $510 01 [13][15][16] Industry Position - LMT carries a Zacks Rank 3 (Hold) and a VGM Score of B indicating solid growth potential [18]