B of A Securities Upgrades L3Harris Technologies (LHX)

Fintel reports that on October 31, 2024, B of A Securities upgraded their outlook for L3Harris Technologies (NYSE:LHX) from Neutral to Buy.

Analyst Price Forecast Suggests 8.50% Upside

As of October 22, 2024, the average one-year price target for L3Harris Technologies is $266.28/share. The forecasts range from a low of $199.98 to a high of $340.20. The average price target represents an increase of 8.50% from its latest reported closing price of $245.41 / share.

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The projected annual revenue for L3Harris Technologies is 18,515MM, a decrease of 12.43%. The projected annual non-GAAP EPS is 14.17.

What is the Fund Sentiment?

There are 2,107 funds or institutions reporting positions in L3Harris Technologies. This is an increase of 6 owner(s) or 0.29% in the last quarter. Average portfolio weight of all funds dedicated to LHX is 0.34%, an increase of 2.25%. Total shares owned by institutions increased in the last three months by 1.41% to 191,915K shares. The put/call ratio of LHX is 0.62, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 11,287K shares representing 5.95% ownership of the company. In its prior filing, the firm reported owning 11,518K shares , representing a decrease of 2.04%. The firm increased its portfolio allocation in LHX by 1.75% over the last quarter.

Price T Rowe Associates holds 9,594K shares representing 5.06% ownership of the company. In its prior filing, the firm reported owning 9,631K shares , representing a decrease of 0.38%. The firm increased its portfolio allocation in LHX by 2.50% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,002K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 5,976K shares , representing an increase of 0.44%. The firm increased its portfolio allocation in LHX by 2.93% over the last quarter.

Wells Fargo holds 5,295K shares representing 2.79% ownership of the company. In its prior filing, the firm reported owning 5,265K shares , representing an increase of 0.56%. The firm increased its portfolio allocation in LHX by 6.66% over the last quarter.

Wellington Management Group Llp holds 4,911K shares representing 2.59% ownership of the company. In its prior filing, the firm reported owning 4,552K shares , representing an increase of 7.32%. The firm decreased its portfolio allocation in LHX by 83.85% over the last quarter.

L3Harris Technologies Background Information
(This description is provided by the company.)

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers' mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries.

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This story originally appeared on Fintel.

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