L3Harris Technologies (NYSE:LHX) Downgraded to "Hold" Rating by Melius Research

Key Points

• Melius Research downgraded L3Harris Technologies from “Buy” to “Hold,” joining several firms that have recently lowered ratings or price targets. Despite this, analysts maintain a consensus “Moderate Buy” rating with an average price target of $360.45.
• LHX shares opened at $256.45, near their 52-week low of $256.05 and well below the 52-week high of $379.23, with the stock’s 50-day and 200-day moving averages at $282.12 and $314.08, respectively.
• L3Harris reported quarterly adjusted earnings of $3.13 per share and revenue of $5.88 billion, exceeding analyst expectations, while revenue increased 8.4% year over year. Institutional investors own approximately 84.76% of the company’s shares.

L3Harris Technologies (NYSE:LHX - Get Free Report) was downgraded by investment analysts at Melius Research from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports.

Several other research firms have also issued reports on LHX. 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 research report on Thursday, July 30th. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Jefferies Financial Group downgraded shares of L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price target on the stock. in a research report on Wednesday, August 26th. UBS Group reduced their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $360.45.

L3Harris Technologies Stock Performance

LHX stock opened at $256.45 on Tuesday. The business has a fifty day moving average price of $282.12 and a 200 day moving average price of $314.08. L3Harris Technologies has a fifty-two week low of $256.05 and a fifty-two week high of $379.23. The stock has a market capitalization of $47.75 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 1.64 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm posted $2.78 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts expect that L3Harris Technologies will post 11.88 EPS for the current fiscal year.

Institutional Trading of L3Harris Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Allstate Corp grew its stake in L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock worth $4,106,000 after buying an additional 7,219 shares in the last quarter. Meeder Advisory Services Inc. bought a new stake in shares of L3Harris Technologies during the second quarter worth $1,397,000. Swiss National Bank increased its holdings in L3Harris Technologies by 7.1% in the 1st quarter. Swiss National Bank now owns 549,029 shares of the company's stock worth $189,497,000 after purchasing an additional 36,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of L3Harris Technologies by 23.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company's stock valued at $64,920,000 after buying an additional 41,414 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in L3Harris Technologies by 6.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company's stock valued at $531,416,000 after acquiring an additional 110,423 shares during the period. 84.76% of the stock is currently owned by institutional investors.

About L3Harris Technologies

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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