Envestnet Portfolio Solutions Inc. Acquires 2,282 Shares of Lockheed Martin Co. (NYSE:LMT)

Envestnet Portfolio Solutions Inc. grew its position in Lockheed Martin Co. (NYSE:LMT) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,076 shares of the aerospace company’s stock after acquiring an additional 2,282 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Lockheed Martin were worth $14,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in LMT. GAMMA Investing LLC raised its position in Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares in the last quarter. Warther Private Wealth LLC grew its holdings in Lockheed Martin by 86.1% during the fourth quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after acquiring an additional 7,575 shares during the period. Morningstar Investment Services LLC grew its holdings in Lockheed Martin by 99.6% during the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after acquiring an additional 73,774 shares during the period. Cercano Management LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $29,454,000. Finally, Brevan Howard Capital Management LP grew its holdings in Lockheed Martin by 414.2% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after acquiring an additional 5,736 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup raised their price objective on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Barclays raised their target price on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group decreased their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $541.85.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by insiders.

Lockheed Martin Trading Down 0.4 %

NYSE:LMT traded down $1.99 during trading hours on Thursday, reaching $561.23. 302,558 shares of the stock were exchanged, compared to its average volume of 1,083,000. Lockheed Martin Co. has a twelve month low of $393.77 and a twelve month high of $564.22. The business has a 50-day moving average of $491.02 and a two-hundred day moving average of $462.74. The company has a market capitalization of $134.66 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 4.40 and a beta of 0.46. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.73 EPS. On average, equities analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

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.