Envestnet Asset Management Inc. Sells 62,867 Shares of Lockheed Martin Co. (NYSE:LMT)

Envestnet Asset Management Inc. lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 707,211 shares of the aerospace company’s stock after selling 62,867 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.30% of Lockheed Martin worth $343,662,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. CFS Investment Advisory Services LLC increased its position 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 acquiring an additional 21 shares during the period. Wynn Capital LLC lifted its holdings in Lockheed Martin by 1.0% during the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock worth $1,062,000 after buying an additional 22 shares during the period. PBMares Wealth Management LLC grew its position in shares of Lockheed Martin by 0.6% in the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock valued at $1,820,000 after buying an additional 22 shares during the last quarter. Nvwm LLC increased its stake in shares of Lockheed Martin by 2.5% in the fourth quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock valued at $441,000 after buying an additional 22 shares during the period. Finally, Schear Investment Advisers LLC raised its position in shares of Lockheed Martin by 2.0% during the fourth quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company’s stock worth $557,000 after acquiring an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction 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 in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. 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 in the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Lockheed Martin Stock Down 4.9 %

LMT stock opened at $432.72 on Friday. The stock’s 50 day moving average is $451.38 and its 200-day moving average is $506.03. Lockheed Martin Co. has a twelve month low of $419.70 and a twelve month high of $618.95. The firm has a market capitalization of $101.50 billion, a PE ratio of 19.44, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. Sell-side analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.05%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Wall Street Analyst Weigh In

LMT has been the topic of a number of analyst reports. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Barclays decreased their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Morgan Stanley cut their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $539.53.

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.