Citizens Business Bank Has $3.40 Million Stock Position in Lockheed Martin Co. (NYSE:LMT)

Citizens Business Bank decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

Several other hedge funds also recently modified their holdings of LMT. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the third quarter valued at about $26,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the second quarter valued at about $27,000. Sachetta LLC lifted its stake in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Stephens Consulting LLC grew its stake in shares of Lockheed Martin by 48.9% in 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 position in shares of Lockheed Martin in the 3rd quarter worth approximately $32,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $512.85 on Wednesday. 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 1-year low of $413.92 and a 1-year high of $618.95. The stock has a market capitalization of $121.57 billion, a P/E ratio of 18.57, a P/E/G ratio of 4.19 and a beta of 0.47. The business has a 50-day moving average price of $561.02 and a two-hundred day moving average price of $531.86.

Lockheed Martin (NYSE:LMT) last posted its quarterly 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 net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm posted $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts predict 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 given a $3.30 dividend. This is a positive change 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 is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Barclays lifted their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. 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 research note on Wednesday, October 23rd. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $611.00.

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.