L3Harris Technologies (NYSE:LHX) Given New $295.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised L3Harris Technologies’ price target to $295 from $265 while maintaining a “sector perform” rating, implying about 6% upside from the prior close.
• L3Harris exceeded quarterly expectations with earnings of $3.28 per share and revenue of $6.07 billion, up 7.1% year over year. Management also raised its full-year earnings and revenue outlook, citing stronger cash flow, operating growth, and record backlog.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and average price target of $343.50, although several firms recently downgraded the stock to “hold” and valuation remains a concern after its prior gains.

L3Harris Technologies (NYSE:LHX - Get Free Report) had its target price upped by research analysts at Royal Bank Of Canada from $265.00 to $295.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 5.96% from the company's previous close.

A number of other equities research analysts have also recently issued reports on LHX. Wall Street Zen cut L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Jefferies Financial Group downgraded shares of 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. Argus lowered L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Friday, September 25th. Weiss Ratings cut L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, September 10th. Finally, BNP Paribas Exane dropped their price target on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $343.50.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $0.03 during midday trading on Friday, reaching $278.40. 776,739 shares of the company were exchanged, compared to its average volume of 1,527,332. The stock's 50-day moving average price is $249.65 and its 200-day moving average price is $305.38. The stock has a market cap of $51.84 billion, a P/E ratio of 28.11, a PEG ratio of 1.63 and a beta of 0.50. L3Harris Technologies has a one year low of $232.34 and a one year high of $379.23. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.95 by $0.33. The business had revenue of $6.07 billion for the quarter, compared to analysts' expectations of $5.92 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. The firm's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.70 earnings per share. On average, sell-side analysts anticipate that L3Harris Technologies will post 11.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LHX. Cedar Mountain Advisors LLC boosted its stake in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock worth $28,000 after buying an additional 74 shares during the period. NBH Bank acquired a new position in shares of L3Harris Technologies in the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC lifted its stake in shares of L3Harris Technologies by 80.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 99 shares of the company's stock worth $29,000 after acquiring an additional 44 shares during the period. Bell Investment Advisors Inc acquired a new position in L3Harris Technologies during the second quarter worth $33,000. Finally, John Boyer Inc. acquired a new position in L3Harris Technologies during the third quarter worth about $31,000. 84.76% of the stock is owned by institutional investors and hedge funds.

More L3Harris Technologies News

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Quarterly results exceeded expectations. L3Harris reported adjusted earnings of $3.28 per share, above consensus estimates of roughly $2.95-$2.99, while revenue reached approximately $6.07 billion versus the $5.92 billion forecast. Revenue grew 7.1% year over year, and earnings increased from $2.70 per share in the comparable period. L3Harris Q3 revenue earnings flash
• Positive Sentiment: Management raised its 2026 outlook. Full-year earnings guidance increased to $12.25-$12.35 per share from $11.80-$12.00, while the company also raised its revenue view. Stronger cash flow and broad-based operating growth supported the improved forecast. L3Harris raises 2026 guidance
• Positive Sentiment: Record backlog improved future revenue visibility. The company characterized backlog as a record, adding support to its growth outlook and helping drive an initial 5.5% share-price surge following the earnings release. Reports also cited a rare government equity stake involving the Department of War, which may have strengthened investor confidence in L3Harris’s strategic importance. L3Harris earnings beat and government stake
• Neutral Sentiment: Chief Executive Mehta indicated that L3Harris expects fewer portfolio adjustments and will focus on executing its existing businesses. This could improve operational consistency, but it also suggests fewer near-term catalysts from major acquisitions or divestitures. L3Harris portfolio strategy
• Negative Sentiment: After a substantial prior run-up, valuation remains a concern. Commentary suggested the shares could trade at a discount despite their gains, leaving the stock vulnerable if future results or defense-sector expectations fail to keep pace. L3Harris valuation commentary

About L3Harris Technologies

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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