Monday, January 18, 2021

RBC Capital Mkts Initiated L3Harris Technologies Inc. [LHX]. What else is Wall St. saying?

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L3Harris Technologies Inc. [NYSE: LHX] price plunged by -1.71 percent to reach at -$3.36. A sum of 1269441 shares traded at recent session while its average daily volume was at 1.67M shares. L3Harris Technologies Inc. shares reached a high of $201.65 and dropped to a low of $190.01 until finishing in the latest session at $193.15.

The one-year LHX stock forecast points to a potential upside of 19.52. The average equity rating for LHX stock is currently 1.70, trading closer to a bullish pattern in the stock market.


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Guru’s Opinion on L3Harris Technologies Inc. [LHX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LHX shares is $240.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LHX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for L3Harris Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 21, 2020. While these analysts kept the previous recommendation, Seaport Global Securities raised their target price to Buy. The new note on the price target was released on May 19, 2020, representing the official price target for L3Harris Technologies Inc. stock. Previously, the target price had yet another raise to $250, while BofA/Merrill analysts kept a Buy rating on LHX stock.

The Average True Range (ATR) for L3Harris Technologies Inc. is set at 6.02, with the Price to Sales ratio for LHX stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 1.92, with the Price to Cash per share for the same quarter was set at 3.02. Price to Free Cash Flow for LHX in the course of the last twelve months was 46.93 with Quick ratio for the last quarter at 1.20.

LHX Stock Performance Analysis:

L3Harris Technologies Inc. [LHX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.72. With this latest performance, LHX shares gained by 8.79% in over the last four-week period, additionally sinking by -2.69% over the last 6 months – not to mention a rise of 1.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LHX stock in for the last two-week period is set at 48.32, with the RSI for the last a single of trading hit 44.35, and the three-weeks RSI is set at 50.34 for L3Harris Technologies Inc. [LHX]. The present Moving Average for the last 50 days of trading for this stock 190.14, while it was recorded at 202.86 for the last single week of trading, and 200.48 for the last 200 days.

Insight into L3Harris Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and L3Harris Technologies Inc. [LHX] shares currently have an operating margin of +12.20 and a Gross Margin at +28.92. L3Harris Technologies Inc.’s Net Margin is presently recorded at +8.88.

Return on Equity for this stock inclined to 12.71, with Return on Assets sitting at 6.83.

L3Harris Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.40.

LHX Stock EPS

With the latest financial reports released by the company, L3Harris Technologies Inc. posted 2.42/share EPS, while the average EPS was predicted by analysts to be reported at 2.26/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LHX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for L3Harris Technologies Inc. go to 13.23%.

L3Harris Technologies Inc. [LHX] Insider Position Details

There are presently around $35,898 million, or 87.10% of LHX stock, in the hands of institutional investors. The top three institutional holders of LHX stocks are: VANGUARD GROUP INC with ownership of 19,280,611, which is approximately 2.511% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 16,659,281 shares of the stock with an approximate value of $3.22 billion in LHX stocks shares; and STATE STREET CORP, currently with $1.78 billion in LHX stock with ownership of nearly -1.252% of the company’s market capitalization.

Positions in L3Harris Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 540 institutional holders increased their position in L3Harris Technologies Inc. [NYSE:LHX] by around 18,162,180 shares. Additionally, 508 investors decreased positions by around 17,313,658 shares, while 150 investors held positions by with 150,379,947 shares. The mentioned changes placed institutional holdings at 185,855,785 shares, according to the latest SEC report filing. LHX stock had 115 new institutional investments in for a total of 3,825,031 shares, while 114 institutional investors sold positions of 2,579,710 shares during the same period.

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