After Credit Suisse and Jefferies gave L3Harris Technologies (NYSE: LHX) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Gautam Khanna maintained a Buy rating on L3Harris Technologies today and set a price target of $240.00. The company’s shares closed last Tuesday at $180.64.
According to TipRanks.com, Khanna is a 5-star analyst with an average return of 7.3% and a 63.1% success rate. Khanna covers the Technology sector, focusing on stocks such as Huntington Ingalls, General Electric, and Transdigm Group.
L3Harris Technologies has an analyst consensus of Strong Buy, with a price target consensus of $233.00, a 27.8% upside from current levels. In a report issued on August 3, Bernstein also maintained a Buy rating on the stock with a $258.00 price target.
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Based on L3Harris Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.45 billion and net profit of $283 million. In comparison, last year the company earned revenue of $1.87 billion and had a net profit of $268 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LHX in relation to earlier this year.
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L3Harris Technologies, Inc. is an agile global aerospace and defense technology innovator, which engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment include intelligence, surveillance, and reconnaissance; advanced electro optical and infrared; and maritime power and navigation. The Space and Airborne Systems segment comprises space payloads, sensors and full-mission solutions; classified intelligence and cyber defense; avionics; and electronic warfare. The Communication Systems segment consists tactical communications; broadband communications; L3’s night vision; and public safety. The Aviation Systems segment compose defense aviation products; security, detection and other commercial aviation products; air traffic management; and commercial and military pilot training. The company was founded in 2019 and is headquartered in Melbourne, FL.
