Wednesday, October 28, 2020

Market Analysts see L3Harris Technologies Inc. [LHX] gaining to $248. Time to buy?

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L3Harris Technologies Inc. [NYSE: LHX] stock went on an upward path that rose over 1.79% on Thursday, amounting to a one-week price increase of more than 5.12%. The company report on September 14, 2020 that L3Harris Technologies-Led Team to Help Transform US Air Force Flight Simulator Training.

Highlights:.

L3Harris Technologies (NYSE:LHX) will lead a team to help transform the U.S. Air Force’s flight simulator training used to help develop highly skilled air crews.

Over the last 12 months, LHX stock dropped by -13.63%. The one-year L3Harris Technologies Inc. stock forecast points to a potential upside of 21.23. The average equity rating for LHX stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $39.07 billion, with 215.90 million shares outstanding and 215.14 million shares in the current float. Compared to the average trading volume of 1.57M shares, LHX stock reached a trading volume of 1140573 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $235.42 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 1.80. 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.

Morgan Stanley have made an estimate for L3Harris Technologies Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 08, 2020. While these analysts kept the previous recommendation, The Benchmark Company dropped their target price from $260 to $250. The new note on the price target was released on August 03, 2020, representing the official price target for L3Harris Technologies Inc. stock. Previously, the target price had yet another raise to $219, while RBC Capital Mkts analysts kept a Outperform rating on LHX stock.

The Average True Range (ATR) for L3Harris Technologies Inc. is set at 4.55, with the Price to Sales ratio for LHX stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 9.24.

LHX Stock Performance Analysis:

L3Harris Technologies Inc. [LHX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.12. With this latest performance, LHX shares gained by 2.46% in over the last four-week period, additionally plugging by 15.80% over the last 6 months – not to mention a drop of -13.63% 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 59.87, with the RSI for the last a single of trading hit 61.89, and the three-weeks RSI is set at 56.90 for L3Harris Technologies Inc. [LHX]. The present Moving Average for the last 50 days of trading for this stock 175.54, while it was recorded at 181.81 for the last single week of trading, and 190.66 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 Total Capital for LHX is now 11.98, given the latest momentum, and Return on Invested Capital for the company is 8.95. Return on Equity for this stock inclined to 12.71, with Return on Assets sitting at 6.83. When it comes to the capital structure of this company, L3Harris Technologies Inc. [LHX] has a Total Debt to Total Equity ratio set at 34.82. Additionally, LHX Total Debt to Total Capital is recorded at 25.83, with Total Debt to Total Assets ending up at 20.51. Long-Term Debt to Equity for the company is recorded at 33.09, with the Long-Term Debt to Total Capital now at 24.55.

Receivables Turnover for the company is 7.74 with a Total Asset Turnover recorded at a value of 0.77.L3Harris Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.50.

LHX Stock EPS

With the latest financial reports released by the company, L3Harris Technologies Inc. posted 2.58/share EPS, while the average EPS was predicted by analysts to be reported at 2.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.40%. 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 13.40%.

L3Harris Technologies Inc. [LHX] Insider Position Details

There are presently around $33,515 million, or 84.80% of LHX stock, in the hands of institutional investors. The top three institutional holders of LHX stocks are: VANGUARD GROUP INC with ownership of 18,156,436, which is approximately -5.831% of the company’s market cap and around 0.48% of the total institutional ownership; BLACKROCK INC., holding 17,175,002 shares of the stock with an approximate value of $3.18 billion in LHX stocks shares; and STATE STREET CORP, currently with $1.7 billion in LHX stock with ownership of nearly -0.347% of the company’s market capitalization.

Positions in L3Harris Technologies Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 537 institutional holders increased their position in L3Harris Technologies Inc. [NYSE:LHX] by around 19,772,887 shares. Additionally, 526 investors decreased positions by around 24,889,679 shares, while 153 investors held positions by with 136,068,084 shares. The mentioned changes placed institutional holdings at 180,730,650 shares, according to the latest SEC report filing. LHX stock had 131 new institutional investments in for a total of 7,794,896 shares, while 109 institutional investors sold positions of 2,944,285 shares during the same period.

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