L3Harris Technologies Inc. (NYSE: LHX) is -12.25% lower on its value in year-to-date trading and has touched a low of $183.21 and a high of $255.10 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 $184.69 in the last trading session, with the day’s loss setting it -1.99% off its average median price target of $247.00 for the next 12 months. It is also 45.95% off the consensus price target high of $338.00 offered by 21 analysts, but current levels are -8.11% lower than the price target low of $169.00 for the same period.
Currently trading at $182.70, the stock is -3.04% and -6.02% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.35 million and changing -1.08% at the moment leaves the stock -14.67% off its SMA200. LHX registered -21.87% loss for a year compared to 6-month loss of -18.93%. The firm has a 50-day simple moving average (SMA 50) of $2.56 and a 200-day simple moving average (SMA200) of $18.79.
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The stock witnessed a -8.34% gain in the last 1 month and extending the period to 3 months gives it a -12.81%, and is -1.68% down 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 1.46% over the week and 1.80% over the month.
L3Harris Technologies Inc. (LHX) has around 46000 employees, a market worth around $34.88B and $17.43B in sales. Current P/E ratio is 37.98 and Fwd P/E is 13.76. Profit margin for the company is 5.30%. Distance from 52-week low is -0.28% and -28.38% from its 52-week high. The company has generated returns on investments over the last 12 months (3.60%).
L3Harris Technologies Inc. (LHX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for L3Harris Technologies Inc. (LHX) is a “Overweight”. 21 analysts offering their recommendations for the stock have an average rating of 2.40, where 8 rate it as a Hold and 2 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 08/03/2023.The EPS is expected to shrink by -39.60% this year
L3Harris Technologies Inc. (LHX) Top Institutional Holders
The shares outstanding are 190.20M, and float is at 188.32M with Short Float at 0.97%.
L3Harris Technologies Inc. (LHX) Insider Activity
A total of 23 insider transactions have happened at L3Harris Technologies Inc. (LHX) in the last six months, with sales accounting for 11 and purchases happening 12 times. The most recent transaction is an insider sale by MEHNERT DANA A, the company’s Pres., 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 1.99% up over the past 12 months and The Boeing Company (BA) that is 60.61% higher over the same period. Lockheed Martin Corporation (LMT) is 4.55% up on the 1-year trading charts.