Envestnet Portfolio Solutions Inc. Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Envestnet Portfolio Solutions Inc. reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,099 shares of the aerospace company’s stock after selling 3,441 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Lockheed Martin were worth $13,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new stake in shares of Lockheed Martin in the third quarter valued at approximately $780,000. Natixis Advisors LLC increased its stake in shares of Lockheed Martin by 10.0% in the 3rd quarter. Natixis Advisors LLC now owns 100,795 shares of the aerospace company’s stock worth $58,921,000 after acquiring an additional 9,152 shares during the last quarter. WESPAC Advisors SoCal LLC raised its holdings in shares of Lockheed Martin by 2.9% during the 3rd quarter. WESPAC Advisors SoCal LLC now owns 3,756 shares of the aerospace company’s stock worth $2,195,000 after acquiring an additional 107 shares during the period. Spinnaker Investment Group LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter valued at about $243,000. Finally, Schear Investment Advisers LLC increased its position in Lockheed Martin by 64.7% during the third quarter. Schear Investment Advisers LLC now owns 1,125 shares of the aerospace company’s stock worth $658,000 after purchasing an additional 442 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

Shares of LMT opened at $467.07 on Monday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The firm has a 50-day simple moving average of $461.39 and a 200-day simple moving average of $518.19. The company has a market capitalization of $109.94 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last quarter. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. UBS Group lowered their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

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.