Citizens Financial Group Inc. RI Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Citizens Financial Group Inc. RI boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 8.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,542 shares of the aerospace company’s stock after purchasing an additional 1,811 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Lockheed Martin were worth $13,762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares during the period. Old West Investment Management LLC grew its holdings in shares of Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the period. Buck Wealth Strategies LLC purchased a new stake in shares of Lockheed Martin during the 2nd quarter worth about $6,611,000. Empower Advisory Group LLC increased its position in Lockheed Martin by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after purchasing an additional 1,843 shares in the last quarter. Finally, Financial Enhancement Group LLC raised its holdings in Lockheed Martin by 2,268.3% in the third quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after buying an additional 10,003 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analysts Set New Price Targets

LMT has been the topic of several recent research reports. UBS Group lifted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Royal Bank of Canada dropped their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. TD Cowen boosted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $534.89 on Thursday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The firm’s 50-day simple moving average is $574.19 and its 200-day simple moving average is $526.27. The firm has a market cap of $126.79 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 earnings per share. Equities analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Lockheed Martin Company Profile

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.