Lockheed Martin Co. (NYSE:LMT) Shares Sold by Citizens Business Bank

Citizens Business Bank cut its position in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,821 shares of the aerospace company’s stock after selling 37 shares during the quarter. Citizens Business Bank’s holdings in Lockheed Martin were worth $3,403,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $26,000. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Stephens Consulting LLC boosted its position in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. Finally, Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the third quarter worth $32,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of several analyst reports. Robert W. Baird boosted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada cut their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. UBS Group boosted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. Finally, Susquehanna dropped their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Up 0.6 %

Shares of Lockheed Martin stock opened at $512.85 on Wednesday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The firm has a market capitalization of $121.57 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 4.19 and a beta of 0.47. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock’s fifty day moving average is $561.02 and its 200-day moving average is $531.86.

Lockheed Martin (NYSE:LMT) last announced its earnings results 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 company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 EPS. Equities analysts anticipate that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 47.79%.

About Lockheed Martin

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.