L3Harris Technologies (NYSE:LHX) Lowered to “Buy” Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of L3Harris Technologies (NYSE:LHX – Free Report) from a strong-buy rating to a buy rating in a report released on Sunday morning.

Other equities research analysts also recently issued reports about the company. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Truist Financial lifted their target price on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $302.29.

Check Out Our Latest Research Report on LHX

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $336.07 on Friday. L3Harris Technologies has a 12-month low of $193.09 and a 12-month high of $338.23. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $290.29 and a 200-day moving average price of $282.00. The firm has a market capitalization of $62.86 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX – Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities research analysts forecast that L3Harris Technologies will post 11.12 EPS for the current year.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LHX. Somerset Trust Co boosted its stake in shares of L3Harris Technologies by 1.4% during the fourth quarter. Somerset Trust Co now owns 19,989 shares of the company’s stock valued at $5,868,000 after purchasing an additional 279 shares in the last quarter. Clear Trail Advisors LLC bought a new position in L3Harris Technologies in the fourth quarter worth approximately $561,000. SG Americas Securities LLC lifted its holdings in L3Harris Technologies by 728.4% during the fourth quarter. SG Americas Securities LLC now owns 203,403 shares of the company’s stock worth $59,713,000 after buying an additional 178,848 shares during the period. Assenagon Asset Management S.A. boosted its position in L3Harris Technologies by 19.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,516 shares of the company’s stock valued at $1,913,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Diversified Trust Co. boosted its position in L3Harris Technologies by 2.8% during the 4th quarter. Diversified Trust Co. now owns 2,221 shares of the company’s stock valued at $652,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

(Get Free Report)

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.

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