Skip to main content

L3Harris Technologies (NYSE:LHX) Rating Lowered to C at TheStreet

Tuesday, May 4, 2021 | MarketBeat

L3Harris Technologies (NYSE:LHX) was downgraded by investment analysts at TheStreet from a "b" rating to a "c" rating in a research report issued on Friday, TheStreetRatingsTable reports.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group restated a "neutral" rating and set a $208.00 target price on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Credit Suisse Group lifted their price target on shares of L3Harris Technologies from $200.00 to $223.00 and gave the stock an "outperform" rating in a research report on Monday, April 19th. Morgan Stanley upped their price objective on shares of L3Harris Technologies from $226.00 to $238.00 and gave the company an "overweight" rating in a research report on Monday. Robert W. Baird downgraded L3Harris Technologies from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $242.00 to $210.00 in a report on Thursday, January 7th. Finally, Cowen reiterated a "buy" rating and issued a $210.00 price objective on shares of L3Harris Technologies in a research report on Friday, February 5th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. The company has a consensus rating of "Buy" and an average price target of $226.21.

Shares of LHX stock opened at $211.74 on Friday. The firm has a market cap of $43.53 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 0.96 and a beta of 0.80. L3Harris Technologies has a 12 month low of $158.09 and a 12 month high of $213.00. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $204.51 and a 200 day moving average price of $189.69.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.26. The firm had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.62 billion. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $2.80 earnings per share. Sell-side analysts predict that L3Harris Technologies will post 11.55 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC lifted its position in shares of L3Harris Technologies by 9,581.3% during the 4th quarter. Kestra Advisory Services LLC now owns 7,261 shares of the company's stock worth $1,363,000 after buying an additional 7,186 shares during the last quarter. Narwhal Capital Management lifted its holdings in shares of L3Harris Technologies by 27.8% in the fourth quarter. Narwhal Capital Management now owns 48,341 shares of the company's stock worth $9,137,000 after acquiring an additional 10,522 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of L3Harris Technologies by 465.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,420 shares of the company's stock valued at $8,018,000 after purchasing an additional 34,920 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at approximately $30,000. Finally, Bahl & Gaynor Inc. increased its position in L3Harris Technologies by 34.6% during the 4th quarter. Bahl & Gaynor Inc. now owns 196,106 shares of the company's stock worth $37,068,000 after purchasing an additional 50,437 shares in the last quarter. 80.58% of the stock is currently owned by hedge funds and other institutional investors.

About L3Harris Technologies

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

Recommended Story: Resistance Level

Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is a Derivative?

7 Lithium Stocks That Will Power the Electric Vehicle Boom

Demand for lithium is set to increase exponentially in the next few years. In fact, according to Statista, demand for lithium may very well double to 820,000 tons in that time. Some of that demand will come from companies that are manufacturing the batteries that we use every day. For example, lithium is an essential component of the batteries that power our mobile devices.

But the real growth will come as the United States goes all-in on electric vehicles (EVs). The Biden administration recently announced plans to have the U.S. government’s fleet of over 600,000 vehicles converted to EVs.

And as you’re aware, EV stocks are in a bubble of some sort at the moment. Some of that is due to the increasing number of companies that went public last year. However, as investors are beginning to realize, not all of these companies will be the next Tesla. In fact, some of these companies may never be successful at bringing an EV to market, at least not at the scale that will be required.

The ones that do make it will need lithium and lots of it. To help you sift through the best lithium stocks to buy, we’ve put together this special presentation.

View the "7 Lithium Stocks That Will Power the Electric Vehicle Boom".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.