L3Harris tech analysis

L3Harris Technologies, Inc. (NYSE:LHX) has received a consensus rating of "Moderate Buy" from the thirteen analysts that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $247.08.

1. **Analyst Ratings and Price Targets**:
- Four analysts have rated the stock with a hold recommendation, indicating a neutral stance on the stock's immediate performance.
- Nine analysts have issued a buy recommendation, suggesting a positive outlook on L3Harris Technologies.
- The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $247.08, which is slightly below the current trading price, indicating a moderate growth expectation.
2. **Insider Transactions**: Insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock, valued at approximately $707,199.84, in a recent transaction. This could be interpreted as a lack of confidence in the stock's short-term performance by the insider, although it may not necessarily reflect the overall sentiment of analysts or investors.
3. **Institutional Activity**: Envestnet Asset Management Inc. boosted its position in shares of L3Harris Technologies by 236.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. This significant increase in institutional ownership suggests confidence in the company's long-term prospects.
4. **Recent Contracts and Partnerships**: L3Harris Technologies has received an Indefinite Delivery, Indefinite Quantity (IDIQ) contract worth up to $182 million from the U.S. Air Force to deliver advanced situational awareness capabilities. This contract is a positive indicator for the company's defense and aerospace technology capabilities, which could contribute to future growth and market opportunities.

In conclusion, L3Harris Technologies is viewed favorably by analysts, with a moderate buy consensus and a target price slightly below the current trading price. Insider activity suggests caution, but institutional investment and recent contract awards indicate confidence in the company's long-term potential.