Lockheed Martin Co. (NYSE:LMT) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 100.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,731 shares of the aerospace company's stock after purchasing an additional 10,878 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Lockheed Martin were worth $10,151,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. HTLF Bank grew its holdings in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company's stock worth $264,000 after buying an additional 20 shares during the last quarter. tru Independence LLC lifted its position in Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company's stock valued at $386,000 after purchasing an additional 20 shares during the period. Sachetta LLC lifted its position in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock valued at $28,000 after purchasing an additional 20 shares during the period. Goldstein Advisors LLC lifted its position in Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company's stock valued at $809,000 after purchasing an additional 21 shares during the period. Finally, Hudock Inc. lifted its position in Lockheed Martin by 1.3% in the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company's stock valued at $801,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LMT. Melius Research upgraded shares of Lockheed Martin to a "strong-buy" rating in a research report on Tuesday, September 3rd. Royal Bank of Canada upgraded shares of Lockheed Martin from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of "Moderate Buy" and a consensus target price of $553.43.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $3.01 during trading on Monday, hitting $572.92. 597,735 shares of the company were exchanged, compared to its average volume of 1,058,154. The stock has a market capitalization of $136.56 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 4.55 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $578.73. The firm has a 50 day moving average price of $534.89 and a 200 day moving average price of $484.26.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts' consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the company posted $6.73 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin's dividend payout ratio is presently 46.10%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company's stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company's stock.

Lockheed Martin 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.