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

Envestnet Portfolio Solutions Inc. increased its position in Lockheed Martin Co. (NYSE:LMT) by 7.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 32,076 shares of the aerospace company’s stock after buying an additional 2,282 shares during the period. 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).

Several other institutional investors have also recently bought and sold shares of the company. Hudock Inc. lifted its position in shares of Lockheed Martin by 1.3% in the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after purchasing an additional 22 shares during the period. American Trust increased its stake in shares of Lockheed Martin by 1.8% in the 1st quarter. American Trust now owns 1,394 shares of the aerospace company’s stock valued at $634,000 after acquiring an additional 24 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in shares of Lockheed Martin by 1.3% in the 4th quarter. Hunter Associates Investment Management LLC now owns 2,011 shares of the aerospace company’s stock valued at $912,000 after acquiring an additional 25 shares in the last quarter. Missouri Trust & Investment Co increased its stake in shares of Lockheed Martin by 19.8% in the 4th quarter. Missouri Trust & Investment Co now owns 151 shares of the aerospace company’s stock valued at $68,000 after acquiring an additional 25 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV increased its stake in shares of Lockheed Martin by 7.1% in the 1st quarter. Rowlandmiller & PARTNERS.ADV now owns 377 shares of the aerospace company’s stock valued at $171,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $465.00 to $635.00 in a research note on Wednesday, July 31st. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, The Goldman Sachs Group decreased their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $541.85.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.

Lockheed Martin Stock Down 0.4 %

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

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.73 EPS. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared 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.