L3Harris Technologies (NYSE:LHX) Raised to Hold at BNP Paribas

L3Harris Technologies (NYSE:LHX) was upgraded by equities researchers at BNP Paribas to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on LHX. Royal Bank Of Canada raised their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research note on Tuesday. They set a “neutral” rating and a $290.00 target price on the stock. UBS Group lifted their price target on L3Harris Technologies from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Barclays increased their price target on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $295.29.

L3Harris Technologies Price Performance

NYSE:LHX opened at $285.42 on Tuesday. The firm’s fifty day moving average is $290.96 and its two-hundred day moving average is $268.21. The firm has a market cap of $53.39 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.09 and a beta of 0.75. L3Harris Technologies has a one year low of $193.09 and a one year high of $308.12. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Research analysts expect that L3Harris Technologies will post 11.12 EPS for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gold Investment Management Ltd. increased its position in shares of L3Harris Technologies by 108.4% in the second quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company’s stock worth $437,000 after acquiring an additional 904 shares in the last quarter. BankPlus Trust Department boosted its stake in L3Harris Technologies by 6.9% in the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company’s stock worth $1,468,000 after purchasing an additional 379 shares during the period. Janney Montgomery Scott LLC grew its position in L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company’s stock worth $48,508,000 after purchasing an additional 33,019 shares in the last quarter. US Bancorp DE raised its stake in L3Harris Technologies by 1.6% during the 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock valued at $86,317,000 after purchasing an additional 5,526 shares during the period. Finally, Dean Capital Management lifted its holdings in shares of L3Harris Technologies by 11.5% in the first quarter. Dean Capital Management now owns 9,596 shares of the company’s stock valued at $2,009,000 after purchasing an additional 986 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

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.