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

December 7, 2017 - By Jacob Falcon

Investors sentiment increased to 1.07 in Q2 2017. Its up 0.06, from 1.01 in 2017Q1. It is positive, 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.
Moreover, Sandy Spring Bank has 0.04% invested in Lockheed Martin Corporation (NYSE:LMT). Institute For Wealth Ltd Limited Liability Company holds 3,729 shares or 0.29% of its portfolio. Moreover, Bowen Hanes Company Inc has 1.6% invested in Lockheed Martin Corporation (NYSE:LMT) for 117,571 shares. Mason Street Advsrs Ltd Llc has 0.24% invested in Lockheed Martin Corporation (NYSE:LMT) for 34,547 shares. Hallmark Cap Management has 5,907 shares for 0.22% of their portfolio. Chevy Chase Trust Holdg invested in 437,429 shares or 0.58% of the stock. Nelson Van Denburg And Campbell Wealth Management Grp Llc has 145 shares for 0.02% of their portfolio. Birinyi Inc holds 1.26% or 9,650 shares. Morgan Stanley invested in 0.15% or 1.79 million shares. Ironwood Invest Counsel Limited Liability owns 1,981 shares for 0.21% of their portfolio. Doheny Asset Mngmt Ca has 6,340 shares. 560 are owned by Guardian Life Ins Of America. The California-based Bailard has invested 0.02% in Lockheed Martin Corporation (NYSE:LMT). Zurcher Kantonalbank (Zurich Cantonalbank) holds 49,077 shares. Winfield Associates invested in 5,965 shares.

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 EPS, up 24.00 % or $0.78 from last year’s $3.25 per share. LMT’s profit will be $1.16B for 19.50 P/E if the $4.03 EPS becomes a reality. After $3.24 actual EPS 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. On Monday, July 10 the stock rating was maintained by RBC Capital Markets with “Hold”. Stifel Nicolaus upgraded the shares of LMT in report on Monday, November 14 to “Buy” rating. As per Monday, August 14, the company rating was maintained by Cowen & Co. The rating was upgraded by RBC Capital Markets on Wednesday, January 6 to “Outperform”. Goldman Sachs maintained the shares of LMT in report on Wednesday, August 24 with “Neutral” rating. The firm has “Hold” rating given on Wednesday, October 25 by RBC Capital Markets. The stock has “Hold” rating by Deutsche Bank on Wednesday, October 26. Jefferies maintained it with “Hold” rating and $26500 target in Wednesday, July 19 report. Deutsche Bank maintained the stock with “Buy” rating in Monday, December 5 report. The firm has “Outperform” rating given on Thursday, October 6 by Robert W. Baird.

More notable recent Lockheed Martin Corporation (NYSE:LMT) news were published by: Nasdaq.com which released: “Lockheed Martin’s (LMT) Unit Wins $102M Deal From US Navy” on December 01, 2017, also Nasdaq.com with their article: “Lockheed Martin Wins $81M Deal From Missile Defense Agency” published on November 22, 2017, Nasdaq.com published: “Lockheed Martin (LMT) Secures $21M Deal From US Air Force” on November 29, 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 (LMT) Secures $23M Contract From US Navy” with publication date: November 23, 2017.

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