Challenger Wealth Management Takes $1.65 Million Position in Lockheed Martin Co. (NYSE:LMT)

Challenger Wealth Management bought a new stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,388 shares of the aerospace company's stock, valued at approximately $1,646,000. Lockheed Martin makes up approximately 1.4% of Challenger Wealth Management's holdings, making the stock its 17th largest holding.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin during the fourth quarter worth about $42,000. 74.19% of the stock is currently owned by institutional investors.

Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This trade represents a 23.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a report on Wednesday, April 16th. Bank of America downgraded Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. Finally, Robert W. Baird raised Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective on the stock in a report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Trading Up 1.6%

Shares of LMT traded up $7.54 during trading hours on Tuesday, hitting $476.42. 1,275,853 shares of the stock traded hands, compared to its average volume of 1,297,472. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The firm has a market capitalization of $111.62 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The business has a fifty day moving average of $461.68 and a 200-day moving average of $475.77.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The business had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

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.