L3Harris Technologies has been noted for its
performances in recent times, despite a notion of underperformance when compared to rivals. The IBD RS
Rating of the company has risen to 71, and Victory Capital Management Inc. has purchased an additional 30358 shares. After reaching a new 12-month high at $218.57, the price target was increased by both JPMorgan Chase & Co. and Wells Fargo & Company.
The company recently underwent layoffs, reducing its workforce by 5% to cut costs. Its stock ascended 4.4% despite varying earnings, making investors more bullish. If someone had invested $1000 in L3Harris a decade ago, the
returns would be considerably high at this point. The company has consistently reported strong performances, including in the first and fourth quarters of 2024, thus increasing their profitability guidance. This has led to some insider sell-offs suggestive of hesitancy but also has led to higher institutional ownership of the corporation (85%). L3Harris has also decided to increase its dividend to $1.16.
A $200M deal was struck for L3Harris' Antenna & Test Equipment Businesses with Kanders & Co. However, some insecurities linger, specifically surrounding the corporation's
debt usage and inconsistency in financials.
L3harris Technologies LHX News Analytics from Fri, 01 Sep 2023 07:00:00 GMT to Fri, 10 May 2024 07:00:00 GMT -
Rating 6
- Innovation 3
- Information 5
- Rumor -5
