Envestnet Portfolio Solutions Inc. Sells 6,374 Shares of Lockheed Martin Corporation (NYSE:LMT)

Envestnet Portfolio Solutions Inc. trimmed its holdings in Lockheed Martin Corporation (NYSE:LMT - Free Report) by 22.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,725 shares of the aerospace company's stock after selling 6,374 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Lockheed Martin were worth $9,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Well Done LLC grew its stake in Lockheed Martin by 5.2% in the 1st quarter. Well Done LLC now owns 728 shares of the aerospace company's stock valued at $354,000 after buying an additional 36 shares in the last quarter. Sterling Investment Counsel LLC grew its stake in Lockheed Martin by 3.7% in the 1st quarter. Sterling Investment Counsel LLC now owns 1,002 shares of the aerospace company's stock valued at $448,000 after buying an additional 36 shares in the last quarter. Boston Trust Walden Corp grew its stake in Lockheed Martin by 18.9% in the 1st quarter. Boston Trust Walden Corp now owns 32,768 shares of the aerospace company's stock valued at $14,638,000 after buying an additional 5,220 shares in the last quarter. Janney Capital Management LLC grew its stake in Lockheed Martin by 4.2% in the 1st quarter. Janney Capital Management LLC now owns 638 shares of the aerospace company's stock valued at $285,000 after buying an additional 26 shares in the last quarter. Finally, Montz Harcus Wealth Management LLC grew its stake in Lockheed Martin by 12.5% in the 1st quarter. Montz Harcus Wealth Management LLC now owns 827 shares of the aerospace company's stock valued at $370,000 after buying an additional 92 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

LMT traded up $1.60 during trading on Monday, hitting $472.16. 2,643,502 shares of the company traded hands, compared to its average volume of 1,343,968. The company has a market cap of $110.63 billion, a PE ratio of 20.40, a P/E/G ratio of 1.64 and a beta of 0.29. The stock's 50-day simple moving average is $471.56 and its two-hundred day simple moving average is $467.62. Lockheed Martin Corporation has a 1 year low of $418.88 and a 1 year high of $618.95. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 2.79.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The business had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. As a group, sell-side analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.80%. Lockheed Martin's dividend payout ratio is presently 57.02%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $685.00 to $485.00 in a report on Monday, March 24th. UBS Group upped their price target on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target on the stock in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and a consensus target price of $541.80.

About Lockheed Martin

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.