L3Harris Technologies (NYSE:LHX) Given New $298.00 Price Target at UBS Group

L3Harris Technologies (NYSE:LHX) had its price target lowered by equities researchers at UBS Group from $312.00 to $298.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 7.31% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. BNP Paribas Exane lowered their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a report on Thursday. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Weiss Ratings downgraded L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. Susquehanna lowered their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research report on Friday. Finally, Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $0.63 during trading hours on Monday, reaching $277.69. 2,897,786 shares of the company were exchanged, compared to its average volume of 1,478,248. L3Harris Technologies has a 12 month low of $262.68 and a 12 month high of $379.23. The firm has a market cap of $51.73 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.36 and a beta of 0.51. 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 stock has a 50-day moving average of $297.54 and a 200 day moving average of $327.50.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.33. The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. As a group, research analysts anticipate that L3Harris Technologies will post 11.87 earnings per share for the current year.

Insider Activity

In other news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the transaction, the vice president owned 4,192 shares of the company’s stock, 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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LHX. Brighton Jones LLC lifted its holdings in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares during the period. Jump Financial LLC raised its position in shares of L3Harris Technologies by 14.9% during the 2nd quarter. Jump Financial LLC now owns 2,995 shares of the company’s stock valued at $751,000 after acquiring an additional 388 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of L3Harris Technologies by 14.2% in the 2nd quarter. NewEdge Advisors LLC now owns 17,082 shares of the company’s stock valued at $4,285,000 after purchasing an additional 2,130 shares during the period. Nebula Research & Development LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter worth $856,000. Finally, CIBC Asset Management Inc boosted its position in shares of L3Harris Technologies by 116.2% in the 2nd quarter. CIBC Asset Management Inc now owns 61,988 shares of the company’s stock worth $15,549,000 after purchasing an additional 33,321 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

About L3Harris Technologies

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.