TD Cowen Cuts L3Harris Technologies (NYSE:LHX) Price Target to $280.00

L3Harris Technologies (NYSE:LHX) had its price target reduced by investment analysts at TD Cowen from $370.00 to $280.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 17.74% from the stock’s previous close.

LHX has been the topic of several other research reports. Jefferies Financial Group cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a report on Wednesday, August 26th. Susquehanna dropped their price objective on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Melius Research lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, BNP Paribas Exane lowered their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $350.08.

L3Harris Technologies Price Performance

NYSE:LHX traded up $0.90 during mid-day trading on Friday, hitting $237.81. 209,692 shares of the stock traded hands, compared to its average volume of 1,495,873. The business’s 50-day moving average price is $259.57 and its 200 day moving average price is $294.84. The company has a market cap of $44.28 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 1.49 and a beta of 0.50. L3Harris Technologies has a 12-month low of $232.34 and a 12-month high of $379.23. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 0.46.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the company posted $2.78 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, analysts expect that L3Harris Technologies will post 11.91 EPS for the current fiscal year.

Institutional Investors Weigh In On L3Harris Technologies

A number of large investors have recently added to or reduced their stakes in the company. Hummer Financial Advisory Services Inc increased its position in shares of L3Harris Technologies by 23.0% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 1,365 shares of the company’s stock valued at $323,000 after purchasing an additional 255 shares during the last quarter. GAMMA Investing LLC lifted its position in L3Harris Technologies by 8.1% in the 3rd quarter. GAMMA Investing LLC now owns 6,156 shares of the company’s stock worth $1,458,000 after buying an additional 461 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC boosted its stake in L3Harris Technologies by 3.7% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 47,475 shares of the company’s stock worth $11,241,000 after buying an additional 1,695 shares in the last quarter. Dorato Capital Management grew its position in L3Harris Technologies by 15.4% during the third quarter. Dorato Capital Management now owns 3,454 shares of the company’s stock valued at $807,000 after acquiring an additional 462 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of L3Harris Technologies by 22.2% during the third quarter. Farther Finance Advisors LLC now owns 5,889 shares of the company’s stock worth $1,394,000 after acquiring an additional 1,069 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc is an aerospace and defense technology company that develops mission-critical systems, products and services for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, missile defense, space operations, aviation and other national security missions.

The company provides tactical radios and secure communications systems, satellite and space payloads, avionics, night-vision and electro-optical systems, sensors, command-and-control solutions, and aircraft and mission systems.