Lockheed Martin Corporation $LMT Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in Lockheed Martin by 46% in the second quarter, now owning 11,727 shares valued at $5.43 million.
• Institutional investors and hedge funds collectively own 74.19% of Lockheed Martin's stock, with various funds making adjustments to their positions during recent quarters.
• Lockheed Martin is set to increase its quarterly dividend to $3.45 per share, reflecting an annual yield of 2.7%, up from the previous $3.30 dividend.

Envestnet Portfolio Solutions Inc. lowered its position in shares of Lockheed Martin Corporation (NYSE:LMT - Free Report) by 46.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,727 shares of the aerospace company's stock after selling 9,998 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Lockheed Martin were worth $5,431,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Lockheed Martin by 7.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock valued at $3,587,444,000 after purchasing an additional 560,457 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Lockheed Martin by 1.4% in the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock valued at $1,021,846,000 after purchasing an additional 31,443 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Lockheed Martin by 0.6% in the first quarter. Invesco Ltd. now owns 2,144,827 shares of the aerospace company's stock valued at $958,116,000 after purchasing an additional 12,899 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lockheed Martin by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,299,092 shares of the aerospace company's stock valued at $580,317,000 after purchasing an additional 24,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Lockheed Martin by 4.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,687 shares of the aerospace company's stock valued at $518,937,000 after purchasing an additional 51,522 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on LMT. Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. TD Cowen reissued a "hold" rating and set a $480.00 target price (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. The Goldman Sachs Group raised their target price on Lockheed Martin from $398.00 to $425.00 and gave the stock a "sell" rating in a research note on Friday, October 10th. Finally, Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of "Hold" and a consensus target price of $503.53.

Lockheed Martin Trading Up 0.2%

Shares of NYSE LMT opened at $504.77 on Wednesday. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. The stock has a fifty day simple moving average of $468.02 and a 200-day simple moving average of $463.81. The stock has a market capitalization of $117.84 billion, a PE ratio of 28.42, a PEG ratio of 1.77 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%.The business had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the previous year, the firm posted $7.11 earnings per share. The company's revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be issued a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.7%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.30. The ex-dividend date is Monday, December 1st. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

Lockheed Martin 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.

Want to see what other hedge funds are holding LMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lockheed Martin Corporation (NYSE:LMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.