Peak Retirement Planning Inc. Purchases Shares of 1,611 Lockheed Martin Co. (NYSE:LMT)

Peak Retirement Planning Inc. bought a new stake in Lockheed Martin Co. (NYSE:LMT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,611 shares of the aerospace company's stock, valued at approximately $788,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after acquiring an additional 3,247 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $33,294,000. Private Advisor Group LLC raised its position in Lockheed Martin by 11.0% in the 4th quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock worth $24,906,000 after purchasing an additional 5,075 shares during the last quarter. State of Wyoming lifted its holdings in Lockheed Martin by 93.9% during the 4th quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after buying an additional 539 shares in the last quarter. Finally, Confluence Wealth Services Inc. boosted its position in Lockheed Martin by 174.0% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,176 shares of the aerospace company's stock valued at $1,579,000 after buying an additional 2,017 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LMT. Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Royal Bank of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wall Street Zen lowered shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Wells Fargo & Company cut 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. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Stock Down 0.8%

Lockheed Martin stock traded down $3.98 during midday trading on Wednesday, reaching $472.87. The stock had a trading volume of 395,004 shares, compared to its average volume of 1,293,923. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm's fifty day simple moving average is $461.88 and its 200-day simple moving average is $475.78. The stock has a market capitalization of $110.79 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its 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. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. As a group, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a yield of 2.79%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Lockheed Martin 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.