Challenger Wealth Management Acquires Shares of 3,388 Lockheed Martin Co. (NYSE:LMT)

Challenger Wealth Management purchased a new stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,388 shares of the aerospace company's stock, valued at approximately $1,646,000. Lockheed Martin comprises about 1.4% of Challenger Wealth Management's portfolio, making the stock its 17th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its position in Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock worth $600,412,000 after purchasing an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter worth approximately $526,587,000. Leigh Baldwin & CO. LLC purchased a new position in shares of Lockheed Martin in the fourth quarter worth approximately $451,985,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company's stock worth $266,410,000 after buying an additional 507,312 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

LMT has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a research report on Wednesday, April 16th. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Price Performance

NYSE LMT traded up $2.56 during trading hours on Thursday, reaching $472.54. The company's stock had a trading volume of 321,036 shares, compared to its average volume of 1,292,892. The company has a market capitalization of $110.71 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 1 year low of $418.88 and a 1 year high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm's 50-day moving average price is $462.47 and its 200-day moving average price is $475.74.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.79%. Lockheed Martin's dividend payout ratio (DPR) is 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.