L3Harris Technologies (NYSE:LHX) Stock Lifted to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded L3Harris Technologies from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $355.92.
• L3Harris shares opened at $236.64, near their one-year low of $234.01 and below both their 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $3.13 in EPS versus $2.80 expected and $5.88 billion in revenue, up 8.4% year over year; institutional investors own 84.76% of the stock.

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

Other analysts have also recently issued reports about the stock. Jefferies Financial Group cut shares of L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 price objective on the stock. in a research note on Wednesday, August 26th. Weiss Ratings cut shares of L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 10th. UBS Group decreased their price target on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Sanford C. Bernstein dropped their price target on L3Harris Technologies from $365.00 to $346.00 and set an "outperform" rating for the company in a report on Wednesday, September 23rd. Finally, BNP Paribas Exane cut their price objective on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. 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 stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average price target of $355.92.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $236.64 on Friday. The stock's fifty day simple moving average is $264.22 and its 200 day simple moving average is $298.90. L3Harris Technologies has a one year low of $234.01 and a one year high of $379.23. The firm has a market cap of $44.07 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.51 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 released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.33. The firm had revenue of $5.88 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, analysts expect that L3Harris Technologies will post 11.91 earnings per share for the current fiscal year.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently modified their holdings of LHX. BlackRock Inc. bought a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $5,525,806,000. Bank of New York Mellon Corp bought a new stake in L3Harris Technologies in the 2nd quarter valued at $752,983,000. Artisan Partners Limited Partnership raised its stake in L3Harris Technologies by 174.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock valued at $557,933,000 after acquiring an additional 1,207,334 shares during the period. Deutsche Bank AG acquired a new stake in L3Harris Technologies during the 2nd quarter valued at $174,006,000. Finally, Man Group plc lifted its holdings in 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 last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Company Profile

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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