L3Harris Technologies (NYSE:LHX) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut L3Harris Technologies’ price target from $310 to $265 while maintaining a “sector perform” rating, implying roughly 10% upside from the current price.
• LHX shares rose 1.4% to $240.72, but remain well below their 52-week high of $379.23; the stock’s average analyst rating is “Moderate Buy” with a consensus target of $341.71.
• The company recently exceeded quarterly earnings and revenue expectations, reporting $3.13 in EPS and $5.88 billion in revenue, with year-over-year revenue growth of 8.4%.

L3Harris Technologies (NYSE:LHX - Get Free Report) had its price target reduced by Royal Bank Of Canada from $310.00 to $265.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 10.09% from the stock's current price.

Several other equities analysts have also issued reports on the stock. Weiss Ratings lowered shares of L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 10th. Guggenheim started coverage on L3Harris Technologies in a research note on Monday, September 14th. They issued a "buy" rating and a $365.00 price target on the stock. Melius Research downgraded L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, September 8th. The Goldman Sachs Group reduced their price objective on L3Harris Technologies from $405.00 to $361.00 and set a "buy" rating for the company in a research report on Monday. Finally, BNP Paribas Exane lowered their price objective on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $341.71.

L3Harris Technologies Stock Up 1.4%

Shares of L3Harris Technologies stock traded up $3.22 during trading on Thursday, hitting $240.72. The company's stock had a trading volume of 470,587 shares, compared to its average volume of 1,496,850. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.03 and a current ratio of 1.18. The company has a fifty day simple moving average of $255.99 and a two-hundred day simple moving average of $291.66. The company has a market capitalization of $44.83 billion, a PE ratio of 24.28, a P/E/G ratio of 1.50 and a beta of 0.50. 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 issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $5.81 billion. During the same period last year, the company posted $2.78 EPS. L3Harris Technologies'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. Equities research analysts predict that L3Harris Technologies will post 11.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LHX. Cedar Mountain Advisors LLC lifted its position in shares of 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 purchasing an additional 74 shares during the last quarter. Tower View Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the first quarter valued at $29,000. NBH Bank bought a new position in shares of L3Harris Technologies in the second quarter worth about $26,000. Elevation Wealth Partners LLC grew its holdings in shares of L3Harris Technologies by 80.0% in the second quarter. Elevation Wealth Partners LLC now owns 99 shares of the company's stock worth $29,000 after purchasing an additional 44 shares during the last quarter. Finally, Bell Investment Advisors Inc purchased a new position in L3Harris Technologies in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

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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