L3Harris Technologies, Inc.’s Stock Price Soars to $245.29, Marking a Robust 3.12% Increase

L3Harris Technologies, Inc. (LHX)

245.29 USD +7.42 (+3.12%) Volume: 1.25M

L3Harris Technologies, Inc.’s stock price has shown a robust performance at 245.29 USD, marking an impressive trading session increase of +3.12%. The stock, with a trading volume of 1.25M, has shown a significant year-to-date growth of +16.46%, demonstrating its strong market position and promising investment potential.

Latest developments on L3Harris Technologies, Inc.

L3Harris Technologies (NYSE:LHX) has been making waves in the stock market recently, showing rising relative strength and hitting a 52-week high at $245.94. The company’s stock price movements have been influenced by key events such as being selected by the US Navy to maintain the P-8A Poseidon fleet and providing propulsion for a hypersonic defense system. Additionally, L3Harris has announced the date for its Third Quarter 2024 earnings release multiple times. Despite facing growth challenges, as highlighted in its SWOT analysis, L3Harris continues to demonstrate its potential in the defense sector with applications for phased array technology. Investors are eagerly watching as the company approaches key thresholds in its stock performance.

L3Harris Technologies, Inc. on Smartkarma

Analysts at Baptista Research have published research reports on L3Harris Technologies on Smartkarma, providing insights into the company’s recent financial performance and strategic position. In one report titled “L3Harris Technologies Inc.: Integration & Optimization Post-Aerojet Rocketdyne Acquisition,” the analysts noted positive progress in various areas, with segment operating margins increasing by 80 basis points year-over-year to 15.6% and non-GAAP earnings per share growing by 9% to $3.24. These results showcase the company’s strong cost management and operational efficiency.

Another report by Baptista Research, titled “L3Harris Technologies: What Is The Story Behind Its International Growth and Expansion?,” highlighted the company’s strong key performance metrics in Q1 2024, including an industry-leading margin expansion of 80 basis points to 15.1%. This performance has led to optimistic full-year 2024 margin, EPS, and revenue guidance, with operating income increasing by $150 million and EPS growing by 7% to $3.06 per share primarily due to segment operating margin performance.

A look at L3Harris Technologies, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, L3Harris Technologies is positioned well for the long-term. With high scores in Value and Dividend, the company is seen as a strong investment opportunity. Additionally, its Momentum score suggests positive growth potential in the future. However, the company’s lower scores in Growth and Resilience indicate some areas for improvement to ensure sustained success in the competitive aerospace and defense industry.

L3Harris Technologies, Inc. is an aerospace and defense technology innovator that designs and manufactures radio communications products and systems. With a focus on advanced defense and commercial technologies, the company operates across various domains including air, land, sea, space, and cyber. The Smartkarma Smart Scores highlight L3Harris Technologies’ strengths in value, dividend, and momentum, pointing towards a promising outlook for the company in the long run.

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