L3Harris Technologies (NYSE:LHX) Downgraded by Wall Street Zen to “Buy”

L3Harris Technologies (NYSE:LHX) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

Several other equities analysts have also commented on the stock. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price target for the company. Citigroup started coverage on L3Harris Technologies in a research report on Thursday, December 11th. They set a “buy” rating and a $331.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $302.29.

L3Harris Technologies Stock Performance

NYSE LHX opened at $336.07 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $338.23. The business has a 50 day simple moving average of $290.29 and a two-hundred day simple moving average of $281.77. The stock has a market capitalization of $62.86 billion, a PE ratio of 36.10, a P/E/G ratio of 2.10 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm earned $3.34 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, research analysts predict that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently made changes to their positions in LHX. Caitlin John LLC bought a new position in L3Harris Technologies during the 3rd quarter worth about $28,000. JPL Wealth Management LLC bought a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $29,000. Triumph Capital Management purchased a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $31,000. GGM Financials LLC bought a new position in shares of L3Harris Technologies during the third quarter valued at approximately $32,000. Finally, Kiker Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.