Citigroup Initiates Coverage on L3Harris Technologies (NYSE:LHX)

Stock analysts at Citigroup assumed coverage on shares of L3Harris Technologies (NYSE:LHX) in a note issued to investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $331.00 price target on the stock. Citigroup’s price objective points to a potential upside of 15.39% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Morgan Stanley increased their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. BNP Paribas Exane began coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target for the company. Finally, Truist Financial raised their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $295.50.

L3Harris Technologies Stock Down 1.0%

Shares of L3Harris Technologies stock traded down $3.02 during trading on Thursday, reaching $286.84. The company had a trading volume of 1,317,609 shares, compared to its average volume of 1,070,635. The firm’s fifty day moving average is $287.77 and its 200-day moving average is $274.23. The company has a market cap of $53.65 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 2.03 and a beta of 0.65. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $308.12.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business posted $3.34 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cyndeo Wealth Partners LLC grew its holdings in shares of L3Harris Technologies by 2.7% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock valued at $350,000 after purchasing an additional 37 shares in the last quarter. Twin Lakes Capital Management LLC grew its stake in L3Harris Technologies by 0.3% in the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after purchasing an additional 38 shares in the last quarter. Lantern Wealth Advisors LLC grew its holdings in L3Harris Technologies by 0.8% during the 3rd quarter. Lantern Wealth Advisors LLC now owns 4,699 shares of the company’s stock worth $1,435,000 after acquiring an additional 38 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in L3Harris Technologies by 2.2% during the second quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after buying an additional 39 shares during the period. Finally, Independence Bank of Kentucky raised its holdings in L3Harris Technologies by 44.4% in the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after purchasing an additional 40 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.