L3Harris Technologies (NYSE:LHX) Upgraded by Argus to “Strong-Buy” Rating

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

Other analysts also recently issued research reports about the stock. TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, February 6th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Truist Financial set a $364.00 price target on L3Harris Technologies in a research report on Wednesday, January 14th. Finally, Vertical Research restated a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Stock Up 2.6%

L3Harris Technologies stock opened at $364.50 on Friday. L3Harris Technologies has a fifty-two week low of $195.72 and a fifty-two week high of $369.59. The firm has a market capitalization of $68.08 billion, a price-to-earnings ratio of 42.73, a price-to-earnings-growth ratio of 2.56 and a beta of 0.64. The stock’s fifty day moving average is $335.43 and its two-hundred day moving average is $302.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.76 by $0.10. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.47 EPS. Analysts predict that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Insider Activity

In other news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the sale, the insider owned 5,916 shares in the company, valued at $2,004,636.60. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several large investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies during the 4th quarter valued at about $25,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth approximately $25,000. Motiv8 Investments LLC purchased a new stake in L3Harris Technologies in the fourth quarter valued at approximately $25,000. Caitlin John LLC acquired a new position in L3Harris Technologies during the third quarter worth approximately $28,000. Finally, JPL Wealth Management LLC acquired a new position in L3Harris Technologies during the third quarter worth approximately $29,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

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.