L3Harris Technologies (NYSE:LHX) Stock Rating Cut to "Hold" at Argus

Key Points

• Argus downgraded L3Harris Technologies from “buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $355.92.
• L3Harris shares fell 0.3% to $237.22, near their 52-week low of $237.38 and below both their 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $3.13 in adjusted EPS 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 downgraded by research analysts at Argus from a "buy" rating to a "hold" rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Several other analysts also recently weighed in on LHX. Sanford C. Bernstein reduced their price objective on shares of L3Harris Technologies from $365.00 to $346.00 and set an "outperform" rating for the company in a research report on Wednesday. Melius Research lowered shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, September 8th. Susquehanna reduced their price objective on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Finally, UBS Group lowered their price target 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 assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $355.92.

L3Harris Technologies Trading Down 0.3%

L3Harris Technologies stock traded down $0.82 during trading on Friday, reaching $237.22. 785,534 shares of the company were exchanged, compared to its average volume of 1,502,102. The stock's 50 day simple moving average is $270.26 and its two-hundred day simple moving average is $303.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The company has a market capitalization of $44.17 billion, a P/E ratio of 24.00, a PEG ratio of 1.53 and a beta of 0.50. L3Harris Technologies has a 52-week low of $237.38 and a 52-week high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly 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 return on equity of 10.96% and a net margin of 8.17%.The business had revenue of $5.88 billion during the quarter, compared to analysts' expectations of $5.81 billion. During the same period in the prior year, the business posted $2.78 EPS. The company's revenue was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, equities research analysts expect that L3Harris Technologies will post 11.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Cedar Mountain Advisors LLC raised its position in L3Harris Technologies by 1,233.3% during the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company's stock valued at $28,000 after buying an additional 74 shares during the period. Tower View Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the 1st quarter valued at $29,000. Fideuram Asset Management Ireland dac acquired a new position in L3Harris Technologies during the fourth quarter worth $25,000. NBH Bank acquired a new position in L3Harris Technologies in the second quarter worth $26,000. Finally, Elevation Wealth Partners LLC boosted its holdings in L3Harris Technologies by 80.0% in the second quarter. Elevation Wealth Partners LLC now owns 99 shares of the company's stock valued at $29,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.

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