Lockheed Martin Corp. (NYSE: LMT) shares rose in value Monday Nov 14 with heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile as investors continued to try and decipher policy proposals of President-elect Donald Trump’s administration, the Dow Jones Industrial Average DJIA, +0.11% rose 21.03 points, or 0.1%, to finish at 18,868.69, its third straight record close.
The blue-chip index had also touched a historic high of 18,934.05 during the session.
The S&P 500 index SPX, -0.01% fell 0.25 points to end at 2,164.20, and the Nasdaq Composite COMP, -0.36% dropped 18.72 points, or 0.4%, to close at 5,218.40.
Analysts at Stifel Nicolaus upgraded shares of Lockheed Martin Corp. (NYSE: LMT) from Hold to Buy today. With a rating of Buy on the stock, Lockheed Martin Corp. has a 52-week high of $267.81. As a means of comparison, a number of other analysts have issued reports on the company recently, and the company has earned a consensus one-year price target of $269.53, higher than the opening price of $261.23, a difference of 10.09 percent. Stock prices often shift to the upside on recommendations and new price targets of professional analysts.
Shares of Lockheed Martin Corp. (NYSE: LMT) opened at $261.23 on Monday and traded in a range between, $260.80 and $267.81, and last traded at $267.24, a spike of $8.07 or 3.11% over the previous closing price.
Lockheed Martin Corp. (NYSE: LMT) currently has a market cap of 78.30B.
Lockheed Martin Corp. (NYSE: LMT) Average Daily Trading Volume
2,455,046 shares crossed the trading desk yesterday, higher than the average, out of a total float 252,364,000. Substantial gains in trading volume and price inflation together could mean heavy volume accumulation by institutional investors.
However, just a day of high volume buy side trading is not enough to determine a trend. As such, market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Lockheed Martin Corp. (NYSE: LMT) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Lockheed Martin Corp. (NYSE: LMT) have ranged from $200.47 – 267.81, and the stock now has a 50-day MA of $240.51 and 200-day MA of $244.39. Today’s last price is 0.21%% below the 52 week high of $267.81.
Earnings growth is a crucial factor to consider when buying stocks and investors look for companies that have increased their earnings at least 25% or more for a 3 year period.
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