Ipswich Investment Management Co. Inc. Buys 510 Shares of Lockheed Martin Co. (NYSE:LMT)

Ipswich Investment Management Co. Inc. grew its stake in Lockheed Martin Co. (NYSE:LMT) by 21.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,869 shares of the aerospace company’s stock after buying an additional 510 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Lockheed Martin were worth $1,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC lifted its position in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares during the last quarter. Wellington Management Group LLP boosted its stake in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares in the last quarter. Bank of Montreal Can grew its position in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after acquiring an additional 507,312 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LMT shares. Royal Bank of Canada cut their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. UBS Group dropped their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup decreased their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $441.20 on Friday. The company has a market cap of $103.86 billion, a PE ratio of 19.82, a P/E/G ratio of 2.05 and a beta of 0.48. The business has a 50 day moving average of $469.94 and a 200 day moving average of $528.97. Lockheed Martin Co. has a 52 week low of $419.70 and a 52 week high of $618.95. 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 issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.99%. Lockheed Martin’s payout ratio is 59.30%.

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.