L3Harris Technologies (NYSE:LHX) Stock Rating Upgraded by Argus

L3Harris Technologies (NYSE:LHX) was upgraded by stock analysts at Argus to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

A number of other research firms have also recently weighed in on LHX. Royal Bank Of Canada increased their price objective on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Wall Street Zen downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. JPMorgan Chase & Co. increased their price objective on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Finally, BNP Paribas Exane raised shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Stock Performance

NYSE LHX opened at $364.50 on Friday. The company has a fifty day moving average of $335.43 and a two-hundred day moving average of $302.43. The company has a market capitalization of $68.08 billion, a PE ratio of 42.73, a P/E/G ratio of 2.63 and a beta of 0.64. L3Harris Technologies has a 1 year low of $195.72 and a 1 year high of $369.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.47 EPS. As a group, analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock worth $6,872,710,000 after purchasing an additional 190,955 shares during the period. Capital World Investors increased its stake in L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after purchasing an additional 329,910 shares during the last quarter. State Street Corp lifted its position in L3Harris Technologies by 1.6% during the fourth quarter. State Street Corp now owns 8,919,368 shares of the company’s stock worth $2,618,459,000 after buying an additional 141,442 shares during the period. Geode Capital Management LLC lifted its position in L3Harris Technologies by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after buying an additional 106,430 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after buying an additional 1,413,833 shares during 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.