L3Harris Technologies (NYSE:LHX) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded L3Harris Technologies from “buy” to “hold.” The broader analyst consensus remains “Moderate Buy,” with an average price target of $341.71.
• L3Harris shares opened at $253.68, near the lower end of their 52-week range of $232.34 to $379.23, with a market capitalization of approximately $47.24 billion.
• The company exceeded quarterly expectations, reporting adjusted EPS of $3.13 versus the $2.80 consensus and revenue of $5.88 billion, up 8.4% year over year. Institutional investors own approximately 84.76% of the stock.

L3Harris Technologies (NYSE:LHX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities analysts also recently commented on LHX. UBS Group dropped their target price on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research report on Monday, August 3rd. Guggenheim assumed coverage on L3Harris Technologies in a research note on Monday, September 14th. They set a "buy" rating and a $365.00 price target on the stock. BNP Paribas Exane reduced their price target on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Jefferies Financial Group downgraded L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price objective for the company. in a research note on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $341.71.

L3Harris Technologies Stock Down 0.2%

Shares of NYSE:LHX opened at $253.68 on Friday. The company has a fifty day moving average of $250.31 and a 200-day moving average of $287.12. The company has a market capitalization of $47.24 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. L3Harris Technologies has a 52-week low of $232.34 and a 52-week high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. The company had revenue of $5.88 billion during the quarter, compared to analysts' expectations of $5.81 billion. During the same period in the prior year, the company earned $2.78 EPS. L3Harris Technologies's revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, equities analysts predict that L3Harris Technologies will post 11.89 EPS for the current fiscal year.

Institutional Trading of L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in L3Harris Technologies during the 2nd quarter worth $5,525,806,000. State Street Corp grew its position in shares of L3Harris Technologies by 2.9% in the 2nd quarter. State Street Corp now owns 9,097,353 shares of the company's stock valued at $2,643,600,000 after buying an additional 252,662 shares during the last quarter. Wellington Management Group LLP grew its position in shares of L3Harris Technologies by 7.1% in the 2nd quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company's stock valued at $1,367,832,000 after buying an additional 313,431 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $752,983,000. Finally, Bank of America Corp DE increased its stake in shares of L3Harris Technologies by 22.3% in the first quarter. Bank of America Corp DE now owns 1,917,732 shares of the company's stock valued at $661,905,000 after buying an additional 350,313 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a technology and defense company that develops products and systems for government and commercial customers. Its offerings support aerospace, defense, space, communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, and aviation missions.

The company provides secure communications equipment, tactical radios, sensors, avionics, electronic warfare systems, missile and air defense technologies, space payloads and systems, and other mission-critical solutions.

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