L3Harris Technologies (NYSE:LHX) Given New $280.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered L3Harris Technologies’ price target from $370 to $280 while maintaining a “buy” rating, implying roughly 17.7% upside from the stock’s $237.81 price.
• Analyst views have become more mixed, though the stock retains a consensus “Moderate Buy” rating with an average target of $350.08.
• L3Harris exceeded quarterly expectations, reporting $3.13 in EPS and $5.88 billion in revenue, up 8.4% year over year; institutional investors own approximately 84.8% of the shares.

L3Harris Technologies (NYSE:LHX - Get Free Report) had its target price lowered by equities researchers at TD Cowen from $370.00 to $280.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. TD Cowen's price objective would indicate a potential upside of 17.74% from the company's current price.

Several other analysts have also commented on the stock. Melius Research lowered shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. BNP Paribas Exane lowered their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Sanford C. Bernstein dropped their price objective on L3Harris Technologies from $365.00 to $346.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 23rd. Finally, UBS Group reduced their price objective on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.08.

L3Harris Technologies Stock Performance

LHX stock traded up $0.90 during midday trading on Friday, hitting $237.81. The company's stock had a trading volume of 209,692 shares, compared to its average volume of 1,495,873. The stock has a market cap of $44.28 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.49 and a beta of 0.50. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average price is $259.57 and its 200 day moving average price is $294.84. L3Harris Technologies has a 1 year low of $232.34 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion for the quarter, compared to analysts' expectations of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, equities analysts forecast that L3Harris Technologies will post 11.91 EPS for the current year.

Institutional Trading of L3Harris Technologies

Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of L3Harris Technologies during the second quarter worth $5,525,806,000. Bank of New York Mellon Corp purchased a new position in shares of L3Harris Technologies in the second quarter valued at $752,983,000. Artisan Partners Limited Partnership grew its position in shares of L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock valued at $557,933,000 after purchasing an additional 1,207,334 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of L3Harris Technologies during the 2nd quarter valued at $174,006,000. Finally, Man Group plc raised its stake in shares of L3Harris Technologies by 5,286.7% during the 2nd quarter. Man Group plc now owns 563,720 shares of the company's stock valued at $163,811,000 after purchasing an additional 553,255 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

About L3Harris Technologies

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.

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