L3Harris Technologies (NYSE:LHX) Sets New 1-Year High – Should You Buy?

L3Harris Technologies Inc (NYSE:LHX) hit a new 52-week high on Monday . The company traded as high as $341.82 and last traded at $340.7180, with a volume of 96718 shares. The stock had previously closed at $335.77.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cowen restated a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Citigroup started coverage on shares of L3Harris Technologies in a research report on Thursday, December 11th. They issued a “buy” rating and a $331.00 price target for the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Monday. Finally, Truist Financial raised their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $302.29.

L3Harris Technologies Stock Performance

The company has a fifty day moving average of $290.29 and a two-hundred day moving average of $282.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14. The company has a market cap of $63.42 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 2.10 and a beta of 0.66.

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

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were 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 owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of large investors have recently bought and sold shares of LHX. Bank of New York Mellon Corp grew its position in L3Harris Technologies by 52.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. AGF Management Ltd. acquired a new position in shares of L3Harris Technologies during the second quarter valued at about $324,940,000. Victory Capital Management Inc. increased its position in shares of L3Harris Technologies by 1,053.9% during the third quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company’s stock worth $360,964,000 after acquiring an additional 1,079,474 shares in the last quarter. Boston Partners raised its holdings in shares of L3Harris Technologies by 72.1% in the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after acquiring an additional 838,546 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in shares of L3Harris Technologies by 8,284.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 775,322 shares of the company’s stock worth $194,482,000 after acquiring an additional 766,075 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.