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L3Harris Technologies, Inc. (NYSE:LHX) stock has experienced a notable downturn, touching a 52-week low of $194.71. According to InvestingPro analysis, despite the stock’s 14.3% decline over the past six months, the company maintains strong fundamentals with a 23-year track record of consecutive dividend increases. This latest price level reflects a challenging period for the defense contractor, which has seen its shares retreat by 7.37% over the past year. Investors are closely monitoring the company’s performance, as the broader market weighs on the defense sector, with L3Harris Technologies facing both industry-specific challenges and broader economic headwinds. The 52-week low serves as a critical point of interest for market watchers and investors considering the stock’s future trajectory in a volatile trading environment. With analyst targets ranging from $198 to $324 and InvestingPro’s comprehensive analysis suggesting the stock is undervalued, investors seeking detailed insights can access the full Pro Research Report, available exclusively to subscribers.
In other recent news, L3Harris Technologies reported quarterly revenue of $5.5 billion, aligning with market expectations, and adjusted earnings per share of $3.47, surpassing the consensus estimate of $3.42. Citi analysts responded by lowering the company’s price target to $285 but maintained a Buy rating. Meanwhile, Bernstein analysts reaffirmed an Outperform rating with a steady price target of $267, despite mixed results in different segments of the company. L3Harris’s CEO, Christopher E. Kubasik, has set up a stock trading plan under SEC Rule 10b5-1, allowing for the structured sale of company stock. The company also announced a successful first flight of its Viper Shield electronic warfare suite on an F-16 fighter jet, marking a significant advancement in defense technology. L3Harris aims to deliver these systems to international partners by late 2025. Additionally, the company’s management remains confident in achieving its 2026 financial targets, including $23 billion in revenue and a 16% operating margin. These developments indicate a proactive approach in both financial management and technological innovation.
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