Cypress Asset Management Inc. TX Buys Shares of 9,978 Lockheed Martin Co. (NYSE:LMT)

Cypress Asset Management Inc. TX purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,978 shares of the aerospace company's stock, valued at approximately $4,987,000. Lockheed Martin accounts for 1.2% of Cypress Asset Management Inc. TX's investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds also recently modified their holdings of the business. CFS Investment Advisory Services LLC lifted its holdings in shares of Lockheed Martin by 2.0% during the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company's stock worth $530,000 after purchasing an additional 21 shares during the period. PBMares Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 0.6% during the fourth quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company's stock worth $1,820,000 after purchasing an additional 22 shares during the period. Nvwm LLC lifted its holdings in shares of Lockheed Martin by 2.5% during the fourth quarter. Nvwm LLC now owns 908 shares of the aerospace company's stock worth $441,000 after purchasing an additional 22 shares during the period. Schear Investment Advisers LLC lifted its holdings in shares of Lockheed Martin by 2.0% during the fourth quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company's stock worth $557,000 after purchasing an additional 22 shares during the period. Finally, Hamilton Point Investment Advisors LLC raised its stake in Lockheed Martin by 2.2% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 1,050 shares of the aerospace company's stock worth $510,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Down 1.5%

Lockheed Martin stock traded down $7.08 during midday trading on Wednesday, hitting $469.77. 908,391 shares of the stock were exchanged, compared to its average volume of 1,295,924. Lockheed Martin Co. has a 52-week low of $418.88 and a 52-week high of $618.95. The stock has a market capitalization of $110.07 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The business's 50-day moving average price is $461.88 and its 200-day moving average price is $475.78. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. On average, research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's payout ratio is 57.02%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LMT. Melius downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird raised shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of "Moderate Buy" and an average price target of $541.80.

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.