L3Harris Technologies' (LHX) Buy (B-) Rating Reiterated at Weiss Ratings

Key Points

• L3Harris Technologies' stock has been reiterated with a "buy (B-)" rating by Weiss Ratings, indicating positive sentiment among analysts.
• Multiple analysts have raised their price targets for L3Harris Technologies, with estimates now ranging from $280.00 to $320.00.
• The company's recent earnings results showed an EPS of $2.78, surpassing expectations and reflecting a revenue increase of 2.4% year-over-year.

L3Harris Technologies (NYSE:LHX - Get Free Report)'s stock had its "buy (b-)" rating restated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Susquehanna upped their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of L3Harris Technologies in a research report on Wednesday. Truist Financial upped their price objective on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Robert W. Baird upped their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $306.83 on Wednesday. The firm has a 50 day moving average of $280.99 and a 200-day moving average of $251.50. The stock has a market capitalization of $57.41 billion, a PE ratio of 34.28, a PEG ratio of 2.20 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies has a 12 month low of $193.09 and a 12 month high of $306.83.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.48 by $0.30. The company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts predict that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 195,138 shares of company stock valued at $53,571,774. Corporate insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently modified their holdings of the company. Kiker Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company's stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Clearstead Trust LLC bought a new position in L3Harris Technologies during the first quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new position in L3Harris Technologies during the second quarter worth $34,000. Nova Wealth Management Inc. bought a new position in L3Harris Technologies during the first quarter worth $26,000. Finally, Harbor Asset Planning Inc. bought a new position in L3Harris Technologies during the second quarter worth $32,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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