NEW YORK (TheStreet) -- Shares of Lockheed Martin Corp.
(LMT - Get Report) are higher by 2.16% to $166.50 after the company reported a 5% increase in earnings per diluted share to $2.76 for the 2014 second quarter, compared to $2.64 for the year ago period.
The company said profits rose 3.5% this quarter due to lower pension liability caused by higher interest rates, Reuters reports.
As a result Lockheed posted a pension income of $85 million for the 2014 second quarter, from an expense of $120 million for last year.
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The global security and aerospace company posted a 3% increase in net earnings to $889 million for the most recent quarter, from $859 million for the 2013 second quarter.
Lockheed's net sales declined by 1% to $11.3 billion for the quarter ended June 29, compared to 11.4 billion from the same quarter last year.Separately, TheStreet Ratings team rates LOCKHEED MARTIN CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation: "We rate LOCKHEED MARTIN CORP (LMT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
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