Lockheed Martins Sikorsky has recently announced partnerships with additional German companies in an attempt to secure a heavy-lift helicopter contract from Germanys government, valued at EUR 4 billion.
Lockheed Martin shares closed higher for a third consecutive trading session on Wednesday. The stock went up 0.58% ($2.01) to $351.15, after touching an intraday high at $352.25, or a price level not seen since March 1st ($353.58).
In the week ended on April 15th the shares of the global security and aerospace company added 2.37% to their market value compared to a week ago, which marked the third gain out of four weeks. It has also been the best performance since the week ended on February 18th.
The stock has extended its advance to 3.91% so far during the current month, following a 4.12% slump in March. The latter has been the steepest monthly retreat since December 2016.
For the entire past year, Lockheed Martin shares rose 28.45% following another 15.10% surge in 2016.
Lockheeds Sikorsky already has existing agreements with companies such as MTU Aero Engines, Rheinmetall and Hensoldt Sensors AG. It said it was adding new deals with Hydro Systems KG, ZF Luftfahrttechnik GmbH, Jenoptik Germany, Autoflug, Rohde & Schwarz, Liebherr as well as with the German unit of Rockwell Collins.
According to Beth Parcella, the head of international sales for Lockheeds Sikorsky program, the latest Sikorsky CH-53K King Stallion helicopter, which is expected to be declared combat-ready by the US Marine Corps in 2019, will be introduced to the world at the upcoming air show in Berlin with a “very compelling flight demonstration”.
The new aircraft will contend with Boeings CH-47 Chinook to replace the European country’s senescent CH-53G helicopter fleet.
According to a report by Reuters, a request for information is expected to be issued by Germanys Ministry of Defense during the second half of 2018, while a contract is to be awarded to the winning bidder in mid-2020.
According to CNN Money, the 20 analysts, offering 12-month forecasts regarding Lockheed Martin’s stock price, have a median target of $376.00, with a high estimate of $457.00 and a low estimate of $300.00. The median estimate is a 7.08% surge compared to the closing price of $351.15 on April 18th.
The same media also reported that 14 out of 24 surveyed investment analysts had rated Lockheed Martin Corporation’s stock as “Hold”, while 9 – as “Buy”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Lockheed Martin stock are presented as follows:
R1 – $351.41
R2 – $351.68
R3 (Range Resistance – Sell) – $351.94
R4 (Long Breakout) – $352.73
R5 (Breakout Target 1) – $353.66
R6 (Breakout Target 2) – $354.04
S1 – $350.89
S2 – $350.62
S3 (Range Support – Buy) – $350.36
S4 (Short Breakout) – $349.57
S5 (Breakout Target 1) – $348.64
S6 (Breakout Target 2) – $348.26
By using the traditional method of calculation, the weekly levels of importance for Lockheed Martin Corporation (LMT) are presented as follows:
Central Pivot Point – $341.44
R1 – $347.41
R2 – $352.23
R3 – $358.20
R4 – $364.18
S1 – $336.62
S2 – $330.65
S3 – $325.83
S4 – $321.02
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