L3Harris Technologies (NYSE:LHX) Upgraded by Wall Street Zen to Buy Rating

Key Points

• L3Harris Technologies has been upgraded to a Buy rating by Wall Street Zen, reflecting analysts' increased confidence in the stock.
• Several institutions have raised their price targets for L3Harris, with Barclays increasing it to $305.00 and Citigroup to $323.00.
• In its latest quarterly report, L3Harris reported earnings per share of $2.78, exceeding expectations and showing a 2.4% increase in revenue year-over-year.

L3Harris Technologies (NYSE:LHX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

LHX has been the topic of several other research reports. Barclays boosted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Royal Bank Of Canada boosted their price target on L3Harris Technologies from $265.00 to $280.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Robert W. Baird upped their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Citigroup upped their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $279.47.

L3Harris Technologies Trading Down 0.3%

NYSE LHX opened at $275.3280 on Friday. L3Harris Technologies has a one year low of $193.09 and a one year high of $280.52. The company's 50 day moving average price is $263.52 and its 200 day moving average price is $233.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market capitalization of $51.51 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 2.02 and a beta of 0.77.

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

Insider Transactions at L3Harris Technologies

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 40,138 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $269.52, for a total value of $10,817,993.76. Following the completion of the sale, the chief executive officer directly owned 145,578 shares of the company's stock, valued at $39,236,182.56. This represents a 21.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,199 shares of company stock worth $39,045,071 in the last quarter. Corporate insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Kiker Wealth Management LLC lifted 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 acquiring an additional 63 shares during the last quarter. Clearstead Trust LLC purchased a new position in shares of L3Harris Technologies during the 1st quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $34,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies in the 1st quarter worth approximately $26,000. Finally, Harbor Asset Planning Inc. purchased a new stake in L3Harris Technologies during the 2nd quarter valued at $32,000. Institutional investors own 84.76% of the company's stock.

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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