Could Lockheed Martin Corporation (LMT) Go Up? The Stock Formed Double Top Chart Pattern

December 7, 2017 - By Linda Rogers

Investors sentiment increased to 1.07 in 2017 Q2. Its up 0.06, from 1.01 in 2017Q1. It improved, as 37 investors sold Lockheed Martin Corporation shares while 393 reduced holdings. 102 funds opened positions while 360 raised stakes. 223.70 million shares or 1.00% less from 225.96 million shares in 2017Q1 were reported.
Pekin Singer Strauss Asset Il holds 0.04% of its portfolio in Lockheed Martin Corporation (NYSE:LMT) for 926 shares. Guardian Life Insurance Of America has invested 0.02% in Lockheed Martin Corporation (NYSE:LMT). Rfg Advisory Gp Llc has invested 0.29% in Lockheed Martin Corporation (NYSE:LMT). Private Wealth Prns Lc owns 2,719 shares for 0.16% of their portfolio. Univest Corp Of Pennsylvania holds 2,796 shares or 0.33% of its portfolio. Wetherby Asset Mngmt has invested 0.19% in Lockheed Martin Corporation (NYSE:LMT). Oppenheimer Asset Mngmt accumulated 9,697 shares. 75,114 are owned by Sit Invest. Nomura Asset Mgmt Com invested in 177,052 shares or 0.66% of the stock. Parallax Volatility Advisers Ltd Partnership accumulated 3,770 shares. Weatherstone Capital Management invested in 0.15% or 819 shares. Ca holds 0.19% of its portfolio in Lockheed Martin Corporation (NYSE:LMT) for 4,875 shares. Campbell Newman Asset Mgmt holds 1.6% in Lockheed Martin Corporation (NYSE:LMT) or 32,125 shares. Point72 Asset Lp reported 258,706 shares stake. Renaissance Tech Limited Com stated it has 115,500 shares or 0.04% of all its holdings.

The chart of Lockheed Martin Corporation (LMT) shows a double top with $339.57 target or 8.00 % above today’s $314.42 share price. The 5 months chart pattern indicates low risk for the $90.55 billion company. It was reported on Dec, 7 by Finviz.com. If the $339.57 price target is reached, the company will be worth $7.24 billion more. Double tops are rare but powerful chart patterns.

The stock increased 0.79% or $2.45 during the last trading session, reaching $314.42. About 971,738 shares traded. Lockheed Martin Corporation (NYSE:LMT) has risen 14.19% since December 7, 2016 and is uptrending. It has underperformed by 2.51% the S&P500.

Analysts await Lockheed Martin Corporation (NYSE:LMT) to report earnings on January, 23. They expect $4.03 earnings per share, up 24.00 % or $0.78 from last year’s $3.25 per share. LMT’s profit will be $1.16 billion for 19.50 P/E if the $4.03 EPS becomes a reality. After $3.24 actual earnings per share reported by Lockheed Martin Corporation for the previous quarter, Wall Street now forecasts 24.38 % EPS growth.

Lockheed Martin Corporation (NYSE:LMT) Ratings Coverage

Among 21 analysts covering Lockheed Martin Corporation (NYSE:LMT), 13 have Buy rating, 0 Sell and 8 Hold. Therefore 62% are positive. Lockheed Martin Corporation had 69 analyst reports since July 21, 2015 according to SRatingsIntel. Stifel Nicolaus maintained Lockheed Martin Corporation (NYSE:LMT) on Tuesday, July 18 with “Buy” rating. On Monday, October 23 the stock rating was maintained by Jefferies with “Hold”. RBC Capital Markets maintained Lockheed Martin Corporation (NYSE:LMT) on Sunday, October 8 with “Hold” rating. The stock of Lockheed Martin Corporation (NYSE:LMT) earned “Hold” rating by Stifel Nicolaus on Friday, May 13. Wells Fargo upgraded Lockheed Martin Corporation (NYSE:LMT) on Monday, September 19 to “Outperform” rating. The stock of Lockheed Martin Corporation (NYSE:LMT) has “Outperform” rating given on Wednesday, January 27 by RBC Capital Markets. The stock has “Hold” rating by RBC Capital Markets on Friday, June 9. The stock of Lockheed Martin Corporation (NYSE:LMT) earned “Buy” rating by Deutsche Bank on Monday, December 5. Jefferies maintained the shares of LMT in report on Monday, June 12 with “Hold” rating. The stock of Lockheed Martin Corporation (NYSE:LMT) earned “Hold” rating by Cowen & Co on Thursday, October 19.

More notable recent Lockheed Martin Corporation (NYSE:LMT) news were published by: Nasdaq.com which released: “Lockheed Martin’s Unit Wins $23M Deal to Support F-35 Jet” on December 05, 2017, also Prnewswire.com with their article: “Lockheed Martin Inks Five-Year Agreement to Provide Enhanced Laser Guided …” published on December 05, 2017, Nasdaq.com published: “Lockheed Martin (LMT) Secures $23M Contract From US Navy” on November 23, 2017. More interesting news about Lockheed Martin Corporation (NYSE:LMT) were released by: Benzinga.com and their article: “Jim Cramer Weighs In On Lockheed Martin, Twilio, And Visa” published on December 05, 2017 as well as Nasdaq.com‘s news article titled: “Lockheed Martin’s (LMT) Unit Wins $102M Deal From US Navy” with publication date: December 01, 2017.

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