Envestnet Asset Management Inc. Reduces Position in Lockheed Martin Co. (NYSE:LMT)

Envestnet Asset Management Inc. decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 707,211 shares of the aerospace company’s stock after selling 62,867 shares during the period. Envestnet Asset Management Inc.’s holdings in Lockheed Martin were worth $343,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. CFS Investment Advisory Services LLC grew its stake in Lockheed Martin by 2.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock valued at $530,000 after buying an additional 21 shares in the last quarter. Wynn Capital LLC raised its stake in shares of Lockheed Martin by 1.0% during the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after purchasing an additional 22 shares during the period. PBMares Wealth Management LLC lifted its holdings in Lockheed Martin by 0.6% during the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock worth $1,820,000 after purchasing an additional 22 shares in the last quarter. Nvwm LLC lifted its holdings in Lockheed Martin by 2.5% during the 4th quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock worth $441,000 after purchasing an additional 22 shares in the last quarter. Finally, Schear Investment Advisers LLC boosted its stake in Lockheed Martin by 2.0% in the 4th quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company’s stock worth $557,000 after purchasing an additional 22 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 4.9 %

Shares of Lockheed Martin stock opened at $432.72 on Friday. The company’s 50 day moving average price is $451.38 and its 200-day moving average price is $506.03. Lockheed Martin Co. has a 52-week low of $419.70 and a 52-week 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 stock has a market capitalization of $101.50 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Wall Street Analyst Weigh In

LMT has been the topic of several recent analyst reports. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price target for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average target price of $539.53.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last quarter. 0.17% of the stock is owned by company insiders.

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.