L3Harris Technologies Inc [LHX] stock is trading at $214.05, down -1.39%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The LHX shares have gain 3.07% over the last week, with a monthly amount glided 2.63%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
L3Harris Technologies Inc [NYSE: LHX] stock has seen the most recent analyst activity on April 22, 2024, when Alembic Global Advisors upgraded its rating to a Overweight but kept the price target unchanged to $238 for it. Previously, JP Morgan upgraded its rating to Overweight on January 11, 2024, and kept the price target unchanged to $240. On December 15, 2023, upgrade upgraded it’s rating to Buy and revised its price target to $240 on the stock. Robert W. Baird upgraded its rating to a Outperform and increased its price target to $216 on October 31, 2023. Raymond James upgraded its rating to a Outperform but $210 remained the price target by the analyst firm on October 30, 2023. Deutsche Bank started tracking with a Hold rating for this stock on September 28, 2023, and assigned it a price target of $192. In a note dated September 18, 2023, Wells Fargo upgraded an Overweight rating on this stock and boosted its target price from $204 to $209.
L3Harris Technologies Inc [LHX] stock has fluctuated between $160.25 and $218.34 over the past year. Currently, Wall Street analysts expect the stock to reach $245.29 within the next 12 months. L3Harris Technologies Inc [NYSE: LHX] shares were valued at $214.05 at the most recent close of the market. An investor can expect a potential return of 14.59% based on the average LHX price forecast.
Analyzing the LHX fundamentals
L3Harris Technologies Inc [NYSE:LHX] reported sales of 20.16B for the trailing twelve months, which represents a growth of 16.55%. Gross Profit Margin for this corporation currently stands at 0.25% with Operating Profit Margin at 0.1%, Pretax Profit Margin comes in at 0.06%, and Net Profit Margin reading is 0.06%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.06 and Total Capital is 0.06. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.73.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 213.00 points at the first support level, and at 211.96 for the second support level. However, for the 1st resistance point, the stock is sitting at 215.89, and for the 2nd resistance point, it is at 217.74.
L3Harris Technologies Inc [LHX] reported earnings per share of $3.06 for its fiscal quarter that ended on 3/31/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $2.9/share, meaning a difference of $0.16 and a surprise factor of 5.50%. By comparison, the stated earnings for the previous quarter ended on 12/31/2023 were $3.35 per share as compared to estimates of $3.31 per share, a difference of $0.04 representing a surprise of 1.20%.
Ratios To Look Out For
For context, L3Harris Technologies Inc’s Current Ratio is 0.96. Further, the Quick Ratio stands at 0.79, while the Cash Ratio is 0.06. Considering the valuation of this stock, the price to sales ratio is 2.01, the price to book ratio is 2.17 and price to earnings (TTM) ratio is 34.73.
Transactions by insiders
Recent insider trading involved KUBASIK CHRISTOPHER E, Chair and CEO, that happened on Mar 26 ’24 when 6258.0 shares were sold. Chair and CEO, KUBASIK CHRISTOPHER E completed a deal on Mar 25 ’24 to sell 40000.0 shares. Meanwhile, Sr VP-General Counsel & Secy MIKUEN SCOTT T sold 3363.0 shares on Mar 18 ’24.
