L3Harris Technologies (NYSE:LHX) Rating Lowered to “Hold” at Argus

L3Harris Technologies (NYSE:LHX) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a research report issued on Friday, Marketbeat Ratings reports.

Several other research firms have also issued reports on LHX. Jefferies Financial Group lowered L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a report on Wednesday, August 26th. Sanford C. Bernstein lowered their price target on L3Harris Technologies from $365.00 to $346.00 and set an “outperform” rating on the stock in a research report on Wednesday. Guggenheim began coverage on L3Harris Technologies in a report on Monday, September 14th. They set a “buy” rating and a $365.00 price objective on the stock. UBS Group cut their target price on 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, Weiss Ratings cut shares of L3Harris Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $355.92.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $0.82 during mid-day trading on Friday, reaching $237.22. The company had a trading volume of 785,534 shares, compared to its average volume of 1,502,102. 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 company has a market cap of $44.17 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.53 and a beta of 0.50. L3Harris Technologies has a fifty-two week low of $237.38 and a fifty-two week high of $379.23. The business has a fifty day simple moving average of $270.26 and a 200 day simple moving average of $303.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.33. The firm had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.78 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, equities research analysts predict that L3Harris Technologies will post 11.88 earnings per share for the current year.

Institutional Trading of L3Harris Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in L3Harris Technologies during the second quarter valued at $5,525,806,000. Bank of New York Mellon Corp purchased a new stake in L3Harris Technologies during the second quarter worth $752,983,000. Artisan Partners Limited Partnership raised its position in shares of L3Harris Technologies by 174.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company’s stock worth $557,933,000 after acquiring an additional 1,207,334 shares during the period. Deutsche Bank AG acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at about $174,006,000. Finally, Man Group plc increased its position in shares of L3Harris Technologies by 5,286.7% in the second quarter. Man Group plc now owns 563,720 shares of the company’s stock valued at $163,811,000 after buying an additional 553,255 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.