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In a challenging market environment, L3Harris Technologies Inc. (NYSE:LHX) stock has touched a 52-week low, dipping to $200.08. With a market capitalization of $38 billion and revenue growth of nearly 10% over the last twelve months, this aerospace and defense giant maintains a solid market presence despite recent price pressures. The defense contractor, known for its advanced defense and commercial technologies across air, land, sea, space and cyber domains, has faced headwinds that have pressured the stock downward. Despite a generally robust defense sector, L3Harris Technologies has seen its shares retreat by 3.67% over the past year. The company maintains a strong dividend track record, having raised its dividend for 23 consecutive years, with a current yield of 2.24%. This decline reflects broader market trends and possibly investor concerns over budgetary pressures and competition within the defense industry. The 52-week low marks a significant point of interest for investors who track the company’s performance against market expectations and its own historical price levels. According to InvestingPro analysis, the stock appears undervalued at current levels, with analysts setting price targets ranging from $198 to $324. Subscribers can access 8 additional exclusive ProTips and comprehensive financial metrics through the platform’s detailed research reports.
In other recent news, L3Harris Technologies has been the subject of multiple analyst adjustments following its recent quarterly financial results. Citi analysts have lowered their price target for the company to $285, maintaining a Buy rating. This followed L3Harris’s report of $5.5 billion in revenue for the quarter, along with adjusted earnings per share of $3.47, which exceeded both market and Citi’s predictions. The company also expressed confidence in achieving its 2026 financial targets, including $23 billion in revenue and a 16% operating margin.
In parallel, L3Harris CEO, Christopher E. Kubasik, has established a pre-arranged stock trading plan under SEC Rule 10b5-1, facilitating the structured sale of company stock. This plan pertains to vested options for 35,273 shares and is set to commence in May 2025.
Continuing with the company’s developments, L3Harris’s Viper Shield electronic warfare suite has successfully completed its first flight on a Block 70 F-16 fighter jet. The company is on track to deliver the Viper Shield systems to its international partners by late 2025.
Bernstein SocGen Group analysts have also maintained an Outperform rating for L3Harris, with a steady price target of $267.00, despite the company’s mixed quarterly results. Lastly, BofA Securities has adjusted its price target for L3Harris to $265, down from $300, while continuing to endorse the stock with a Buy rating.
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