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

Envestnet Portfolio Solutions Inc. cut its holdings in Lockheed Martin Co. (NYSE:LMT) by 10.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,099 shares of the aerospace company’s stock after selling 3,441 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Lockheed Martin were worth $13,654,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LMT. GSA Capital Partners LLP purchased a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $780,000. Natixis Advisors LLC increased its position in Lockheed Martin by 10.0% during the third quarter. Natixis Advisors LLC now owns 100,795 shares of the aerospace company’s stock worth $58,921,000 after buying an additional 9,152 shares in the last quarter. WESPAC Advisors SoCal LLC raised its holdings in shares of Lockheed Martin by 2.9% in the third 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 last quarter. Spinnaker Investment Group LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at $243,000. Finally, Schear Investment Advisers LLC boosted its stake in shares of Lockheed Martin by 64.7% during the third quarter. Schear Investment Advisers LLC now owns 1,125 shares of the aerospace company’s stock valued at $658,000 after acquiring an additional 442 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.2 %

Shares of Lockheed Martin stock opened at $467.07 on Monday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin Co. has a 1-year low of $419.70 and a 1-year high of $618.95. The business has a 50-day moving average of $461.39 and a 200-day moving average of $518.19. The company has a market capitalization of $109.94 billion, a PE ratio of 20.98, a P/E/G 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 (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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

Insider Activity

In related news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on LMT shares. Susquehanna decreased their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Finally, Morgan Stanley decreased their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

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.