Lockheed Martin Corporation (NYSE:LMT) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lessened its position in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 19.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,969 shares of the aerospace company's stock after selling 4,691 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Lockheed Martin were worth $8,474,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LMT. TruNorth Capital Management LLC purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at approximately $31,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter valued at about $35,000. Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $40,000. Banque Transatlantique SA purchased a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $43,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Lockheed Martin during the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Stock Down 0.9%

Shares of Lockheed Martin stock traded down $3.74 during trading on Thursday, hitting $431.11. 1,489,595 shares of the stock were exchanged, compared to its average volume of 2,259,029. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.83. The firm's 50-day moving average price is $457.25 and its 200 day moving average price is $459.23. The stock has a market cap of $100.65 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.27. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the business earned $7.11 EPS. Lockheed Martin's revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. Lockheed Martin's payout ratio is currently 74.32%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Vertical Research reiterated a "hold" rating and issued a $460.00 target price on shares of Lockheed Martin in a report on Tuesday, July 22nd. Robert W. Baird dropped their price objective on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. TD Cowen reaffirmed a "hold" rating and issued a $480.00 target price (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada cut their price target on shares of Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Fifteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $506.65.

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.