L3Harris Technologies (NYSE:LHX) Stock Price Target Cut by Royal Bank Of Canada

L3Harris Technologies (NYSE:LHX) had its price target cut by stock analysts at Royal Bank Of Canada from $310.00 to $265.00 in a report released on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 10.09% from the stock’s previous close.

A number of other equities analysts also recently issued reports on LHX. Melius Research downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. Guggenheim started coverage on L3Harris Technologies in a report on Monday, September 14th. They issued a “buy” rating and a $365.00 price objective for the company. UBS Group lowered their price objective on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein dropped their target price on shares of L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.71.

L3Harris Technologies Trading Up 1.4%

Shares of NYSE LHX traded up $3.22 during trading hours on Thursday, reaching $240.72. The stock had a trading volume of 470,587 shares, compared to its average volume of 1,496,850. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm has a market cap of $44.83 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 1.50 and a beta of 0.50. The business’s fifty day moving average price is $255.99 and its two-hundred day moving average price is $291.66. L3Harris Technologies has a 52-week low of $232.34 and a 52-week high of $379.23.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping the consensus estimate of $2.80 by $0.33. The company had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%. L3Harris Technologies’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts expect that L3Harris Technologies will post 11.89 EPS for the current fiscal year.

Institutional Trading of L3Harris Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategy Asset Managers LLC lifted its stake in shares of L3Harris Technologies by 9.2% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,519 shares of the company’s stock worth $360,000 after purchasing an additional 128 shares during the last quarter. Columbus Macro LLC grew its stake in L3Harris Technologies by 1.0% in the third quarter. Columbus Macro LLC now owns 28,858 shares of the company’s stock valued at $6,833,000 after purchasing an additional 296 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in L3Harris Technologies by 65.5% in the third quarter. First Citizens Bank & Trust Co. now owns 7,267 shares of the company’s stock valued at $1,721,000 after purchasing an additional 2,877 shares during the last quarter. ASK Capital Investment Managers LLC purchased a new position in L3Harris Technologies in the third quarter valued at about $1,839,000. Finally, Succession Financial Inc. raised its holdings in L3Harris Technologies by 17.7% in the third quarter. Succession Financial Inc. now owns 1,082 shares of the company’s stock worth $256,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.