Envestnet Asset Management Inc. Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Envestnet Asset Management Inc. lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 833,264 shares of the aerospace company’s stock after acquiring an additional 2,942 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lockheed Martin were worth $389,218,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sachetta LLC increased its holdings in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC raised its position in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the 1st quarter worth $30,000. Stephens Consulting LLC boosted its position in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Lockheed Martin in the second quarter worth about $35,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

LMT opened at $569.91 on Friday. The firm has a fifty day moving average price of $534.89 and a 200 day moving average price of $483.90. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $578.73. The stock has a market cap of $135.84 billion, a P/E ratio of 20.85, a P/E/G ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on 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 transaction, 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 accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the stock from $540.00 to $600.00 in a research note on Friday, July 26th. Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. Finally, TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $480.00 to $560.00 in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

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.