Challenger Wealth Management Sells 267 Shares of Lockheed Martin Corporation $LMT

Challenger Wealth Management cut its stake in Lockheed Martin Corporation (NYSE:LMT) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,121 shares of the aerospace company’s stock after selling 267 shares during the quarter. Lockheed Martin comprises approximately 1.1% of Challenger Wealth Management’s holdings, making the stock its 21st largest holding. Challenger Wealth Management’s holdings in Lockheed Martin were worth $1,394,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC boosted its stake in shares of Lockheed Martin by 45.8% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 6,140 shares of the aerospace company’s stock worth $2,743,000 after purchasing an additional 1,930 shares during the period. Kestra Investment Management LLC lifted its stake in Lockheed Martin by 25.2% in the first quarter. Kestra Investment Management LLC now owns 1,705 shares of the aerospace company’s stock worth $762,000 after purchasing an additional 343 shares during the last quarter. Knightsbridge Asset Management LLC bought a new stake in Lockheed Martin in the first quarter worth about $236,000. Talon Private Wealth LLC boosted its position in shares of Lockheed Martin by 217.4% during the first quarter. Talon Private Wealth LLC now owns 6,725 shares of the aerospace company’s stock valued at $3,010,000 after buying an additional 4,606 shares during the period. Finally, Tamar Securities LLC grew its stake in shares of Lockheed Martin by 6.2% during the first quarter. Tamar Securities LLC now owns 39,951 shares of the aerospace company’s stock valued at $17,847,000 after buying an additional 2,317 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LMT. TD Cowen reissued a “hold” rating and set a $480.00 price target (down from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. UBS Group lowered their target price on shares of Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Alembic Global Advisors upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $494.00.

Lockheed Martin Price Performance

LMT opened at $463.68 on Monday. The company has a market capitalization of $108.25 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.63 and a beta of 0.26. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. Lockheed Martin Corporation has a 12-month low of $410.11 and a 12-month high of $618.95. The business’s fifty day simple moving average is $446.34 and its 200-day simple moving average is $457.69.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, topping analysts’ consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The company had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the firm earned $7.11 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.8%. Lockheed Martin’s dividend payout ratio (DPR) is currently 74.32%.

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.