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L3Harris Technologies Inc. (LHX) Is Now En Route to Higher Prices

L3Harris Technologies Inc. (NYSE: LHX) is -6.48% lower on its value in year-to-date trading and has touched a low of $189.73 and a high of $279.71 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The LHX stock was last observed hovering at around $194.25 in the last trading session, with the day’s gains setting it 0.47% off its average median price target of $250.00 for the next 12 months. It is also 42.39% off the consensus price target high of $338.00 offered by 23 analysts, but current levels are -10.01% lower than the price target low of $177.00 for the same period.

Currently trading at $194.72, the stock is -3.34% and -8.76% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.48 million and changing 0.24% at the moment leaves the stock -15.27% off its SMA200. LHX registered -11.79% loss for a year compared to 6-month loss of -13.95%.

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The stock witnessed a -5.92% gain in the last 1 month and extending the period to 3 months gives it a -21.23%, and is 0.04% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.96% over the week and 2.08% over the month.

L3Harris Technologies Inc. (LHX) has around 47000 employees, a market worth around $36.87B and $16.83B in sales. Current P/E ratio is 33.87 and Fwd P/E is 15.59. Profit margin for the company is 6.70%. Distance from 52-week low is 2.63% and -30.39% from its 52-week high. The company has generated returns on investments over the last 12 months (6.20%).

L3Harris Technologies Inc. (LHX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for L3Harris Technologies Inc. (LHX) is a “Overweight”. 23 analysts offering their recommendations for the stock, where 11 rate it as a Hold and 1 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

L3Harris Technologies Inc. is expected to release its quarterly report on 04/28/2023.The EPS is expected to grow by 75.10% this year.

L3Harris Technologies Inc. (LHX) Top Institutional Holders

The shares outstanding are 191.30M, and float is at 189.51M with Short Float at 0.85%.

L3Harris Technologies Inc. (LHX) Insider Activity

A total of 22 insider transactions have happened at L3Harris Technologies Inc. (LHX) in the last six months, with sales accounting for 13 and purchases happening 9 times. The most recent transaction is an insider sale by MEHNERT DANA A,the company’sPres., Communication Systems. SEC filings show that MEHNERT DANA A sold 1,985 shares of the company’s common stock on Dec 05 at a price of $227.25 per share for a total of $0.45 million. Following the sale, the insider now owns 23830.0 shares.

L3Harris Technologies Inc. disclosed in a document filed with the SEC on Nov 08 that GIRARD JAMES P (Vice President & CHRO) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Nov 08 and was made at $229.38 per share for $1.15 million. Following the transaction, the insider now directly holds 7144.0 shares of the LHX stock.

Still, SEC filings show that on Oct 31, KUBASIK CHRISTOPHER E (Chair and CEO) disposed off 20,000 shares at an average price of $245.22 for $4.9 million. The insider now directly holds 98,926 shares of L3Harris Technologies Inc. (LHX).

L3Harris Technologies Inc. (LHX): Who are the competitors?

The company’s main competitors (and peers) include Raytheon Technologies Corporation (RTX) that is trading 14.06% up over the past 12 months and The Boeing Company (BA) that is 3.18% higher over the same period. Lockheed Martin Corporation (LMT) is 21.02% up on the 1-year trading charts.

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