L3Harris Technologies (NYSE:LHX) Trading Up 6.3% – Here’s What Happened

L3Harris Technologies Inc (NYSE:LHX)’s stock price traded up 6.3% during trading on Thursday . The stock traded as high as $300.72 and last traded at $303.2370. 141,759 shares traded hands during trading, a decline of 90% from the average session volume of 1,437,912 shares. The stock had previously closed at $285.16.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LHX shares. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein cut their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Finally, UBS Group reduced their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $354.75.

L3Harris Technologies Stock Performance

The firm has a market capitalization of $55.65 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.41 and a beta of 0.51. The stock has a fifty day moving average of $299.58 and a 200-day moving average of $328.82. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the company earned $2.41 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.54 EPS for the current year.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in L3Harris Technologies during the fourth quarter worth $25,000. Motiv8 Investments LLC acquired a new stake in shares of L3Harris Technologies in the 4th quarter valued at $25,000. American National Bank & Trust boosted its holdings in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares in the last quarter. Finally, Cedar Mountain Advisors LLC increased its stake in shares of L3Harris Technologies by 1,233.3% in the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds 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.