Citizens Financial Group Inc. RI Acquires 1,811 Shares of Lockheed Martin Co. (NYSE:LMT)

Citizens Financial Group Inc. RI raised its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LMT. Moran Wealth Management LLC lifted its holdings in Lockheed Martin by 1.3% during the 3rd quarter. Moran Wealth Management LLC now owns 107,916 shares of the aerospace company's stock worth $63,083,000 after buying an additional 1,334 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Lockheed Martin by 3.1% during the third quarter. EverSource Wealth Advisors LLC now owns 3,115 shares of the aerospace company's stock worth $1,821,000 after buying an additional 95 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth about $613,000. First Horizon Advisors Inc. increased its stake in shares of Lockheed Martin by 0.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 67,182 shares of the aerospace company's stock valued at $39,273,000 after acquiring an additional 275 shares during the last quarter. Finally, Howe & Rusling Inc. grew its holdings in Lockheed Martin by 24.7% during the third quarter. Howe & Rusling Inc. now owns 3,037 shares of the aerospace company's stock valued at $1,775,000 after purchasing an additional 602 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Melius Research raised Lockheed Martin to a "strong-buy" rating in a research report on Tuesday, September 3rd. TD Cowen boosted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird upped their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has an average rating of "Moderate Buy" and a consensus price target of $611.00.

Lockheed Martin Trading Up 1.4 %

NYSE:LMT traded up $7.54 during mid-day trading on Thursday, hitting $542.27. 441,823 shares of the company's stock were exchanged, compared to its average volume of 1,060,838. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a 50 day simple moving average of $574.19 and a 200-day simple moving average of $526.27. The firm has a market capitalization of $128.54 billion, a P/E ratio of 19.63, a PEG ratio of 4.36 and a beta of 0.49.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts' consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. Lockheed Martin's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.43%. 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.