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

L3Harris Technologies Inc (NYSE:LHX) was 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 daily volume of 1,437,912 shares. The stock had previously closed at $285.16.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LHX shares. UBS Group lowered their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Sanford C. Bernstein cut their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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 price-to-earnings-growth ratio of 1.41 and a beta of 0.51. The company has a 50-day moving average of $299.58 and a 200-day moving average of $328.82. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allstate Corp raised its stake in shares of L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock valued at $4,106,000 after acquiring an additional 7,219 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $907,000. Atria Investments Inc grew its stake in shares of L3Harris Technologies by 77.9% in the fourth quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock worth $4,345,000 after purchasing an additional 6,482 shares during the last quarter. Vanguard Group Inc. increased its holdings in L3Harris Technologies by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in L3Harris Technologies by 23.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 221,141 shares of the company’s stock valued at $64,920,000 after purchasing an additional 41,414 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.