Lockheed Martin Investment Management Co. Makes New Investment in International Business Machines Corporation (NYSE:IBM)

Key Points

• Lockheed Martin Investment Management Co. acquired a new position in International Business Machines Corporation (IBM), buying 14,000 shares valued at approximately $3.48 million.
• IBM's recent quarterly earnings report showed an EPS of $2.80, exceeding expectations, with revenues of $16.98 billion, marking a 7.7% increase year-over-year.
• Wall Street analysts have generally rated IBM positively, with an average price target of $268.75, reflecting a consensus of Moderate Buy on the stock.

Lockheed Martin Investment Management Co. bought a new stake in International Business Machines Corporation (NYSE:IBM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,000 shares of the technology company's stock, valued at approximately $3,481,000.

Other large investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new position in International Business Machines in the first quarter worth approximately $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines in the first quarter worth approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in International Business Machines in the fourth quarter worth approximately $43,000. Park Square Financial Group LLC acquired a new position in International Business Machines in the fourth quarter worth approximately $43,000. Finally, Mascagni Wealth Management Inc. acquired a new position in International Business Machines in the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 58.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on IBM shares. Bank of America lowered their price target on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Royal Bank Of Canada increased their price target on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen upgraded International Business Machines from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Citigroup reiterated an "outperform" rating on shares of International Business Machines in a report on Saturday, May 10th. Finally, KGI Securities set a $242.00 price objective on International Business Machines and gave the company a "hold" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $1.89 on Tuesday, hitting $234.41. The stock had a trading volume of 8,749,624 shares, compared to its average volume of 4,772,840. International Business Machines Corporation has a twelve month low of $189.21 and a twelve month high of $296.16. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.87 and a current ratio of 0.91. The firm's 50 day moving average price is $275.58 and its 200-day moving average price is $258.56. The company has a market capitalization of $217.86 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 3.74 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.43 EPS. On average, equities research analysts predict that International Business Machines Corporation will post 10.78 earnings per share for the current year.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.