L3Harris Technologies (NYSE:LHX) Upgraded at Guggenheim

Key Points

• Guggenheim upgraded L3Harris Technologies to “strong buy,” while the broader analyst consensus remains “moderate buy” with an average price target of $360.83.
• L3Harris shares opened at $250.99, near their one-year low of $244.76 and well below the 50-day and 200-day moving averages of $275.63 and $308.99, respectively.
• The company exceeded quarterly expectations, reporting $3.13 in adjusted earnings per share and $5.88 billion in revenue; revenue increased 8.4% year over year. Institutional investors own approximately 84.76% of the stock.

L3Harris Technologies (NYSE:LHX - Get Free Report) was upgraded by stock analysts at Guggenheim to a "strong-buy" rating in a report issued on Monday, Zacks reports.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. UBS Group cut their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Susquehanna reduced their target price on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a report on Friday, July 31st. Weiss Ratings downgraded shares of L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, September 10th. Finally, BNP Paribas Exane cut 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. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $360.83.

L3Harris Technologies Trading Up 0.5%

Shares of L3Harris Technologies stock opened at $250.99 on Monday. The firm has a market capitalization of $46.74 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm's 50 day moving average is $275.63 and its 200 day moving average is $308.99. L3Harris Technologies has a 1 year low of $244.76 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion during 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%.L3Harris Technologies's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities research analysts forecast that L3Harris Technologies will post 11.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On L3Harris Technologies

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.