L3Harris Technologies (NYSE:LHX) Stock Rating Lowered by Wall Street Zen

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

LHX has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Morgan Stanley upped their target price on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Citigroup began coverage on shares of L3Harris Technologies in a research note on Thursday, December 11th. They set a “buy” rating and a $331.00 price target on the stock. Finally, UBS Group upped their price objective on L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $302.29.

L3Harris Technologies Stock Up 1.4%

Shares of L3Harris Technologies stock opened at $340.55 on Friday. L3Harris Technologies has a twelve month low of $193.09 and a twelve month high of $341.82. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $291.33 and its 200 day moving average is $282.66. The company has a market cap of $63.70 billion, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Several large investors have recently made changes to their positions in LHX. Bank of New York Mellon Corp raised its stake in L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. AGF Management Ltd. purchased a new stake in L3Harris Technologies during the 2nd quarter valued at approximately $324,940,000. Victory Capital Management Inc. raised its position in shares of L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock valued at $360,964,000 after buying an additional 1,079,474 shares during the last quarter. Boston Partners raised its position in shares of L3Harris Technologies by 72.1% during the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after buying an additional 838,546 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of L3Harris Technologies by 8,284.6% in the second quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after buying an additional 766,075 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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.