Bullish Chart Formation for Lockheed Martin Corporation (LMT) After Forming Double Top Chart Pattern

December 7, 2017 - By Louis Casey

Investors sentiment increased to 1.07 in Q2 2017. Its up 0.06, from 1.01 in 2017Q1. It increased, 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.
Cadence Mgmt Limited Liability accumulated 30,489 shares. California Pub Employees Retirement Systems reported 676,703 shares stake. Georgia-based Advisory Ltd Com has invested 0.5% in Lockheed Martin Corporation (NYSE:LMT). First Western Capital stated it has 0.39% in Lockheed Martin Corporation (NYSE:LMT). Tetrem Mgmt Limited holds 1,396 shares. Hennessy Advisors reported 7,600 shares. Steinberg Global Asset Mgmt holds 21,761 shares. Wilbanks Smith Thomas Asset Management Lc accumulated 0.09% or 3,701 shares. 1St accumulated 0.03% or 940 shares. Cantab Capital Ptnrs Ltd Liability Partnership reported 7,641 shares. Utah Retirement reported 0.3% stake. Weiss Multi owns 0.03% invested in Lockheed Martin Corporation (NYSE:LMT) for 2,779 shares. Stearns Fincl Grp Inc invested in 0.08% or 1,268 shares. Artemis Investment Mngmt Limited Liability Partnership reported 52,126 shares. Northwestern Mutual Wealth Mngmt Communications has invested 0.05% in Lockheed Martin Corporation (NYSE:LMT).

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. The company was maintained on Wednesday, October 25 by Credit Suisse. RBC Capital Markets upgraded the shares of LMT in report on Wednesday, January 6 to “Outperform” rating. Argus Research maintained it with “Buy” rating and $230 target in Thursday, October 22 report. The rating was upgraded by Zacks on Thursday, September 3 to “Buy”. The firm has “Buy” rating given on Thursday, August 20 by Sterne Agee CRT. On Thursday, May 19 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”. The stock has “Hold” rating by Stifel Nicolaus on Friday, May 13. Barclays Capital downgraded the shares of LMT in report on Monday, November 30 to “Underweight” rating. RBC Capital Markets maintained the shares of LMT in report on Friday, September 29 with “Hold” rating. Cowen & Co maintained it with “Hold” rating and $310.0 target in Thursday, October 19 report.

More notable recent Lockheed Martin Corporation (NYSE:LMT) news were published by: Nasdaq.com which released: “Lockheed Martin Wins $81M Deal From Missile Defense Agency” on November 22, 2017, also Nasdaq.com with their article: “Lockheed Martin (LMT) Secures $21M Deal From US Air Force” published on November 29, 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: Dividend.com and their article: “Lockheed Martin Corp.: Soaring High with its F-35 Fighter Jet” published on November 29, 2017 as well as Nasdaq.com‘s news article titled: “Lockheed Martin’s Unit Wins $23M Deal to Support F-35 Jet” with publication date: December 05, 2017.

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