Bernstein Reaffirms Their Buy Rating on L3Harris Technologies (LHX)

Bernstein analyst Douglas Harned maintained a Buy rating on L3Harris Technologies on May 29 and set a price target of $405.00. The company’s shares closed last Friday at $315.18.

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According to TipRanks, Harned is a 4-star analyst with an average return of 12.2% and a 56.88% success rate. Harned covers the Industrials sector, focusing on stocks such as Boeing, GE Aerospace, and Northrop Grumman.

L3Harris Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $377.40, which is a 19.74% upside from current levels. In a report released on May 19, Cantor Fitzgerald also maintained a Buy rating on the stock with a $384.00 price target.

Based on L3Harris Technologies’ latest earnings release for the quarter ending April 3, the company reported a quarterly revenue of $5.74 billion and a net profit of $512 million. In comparison, last year the company earned a revenue of $5.13 billion and had a net profit of $386 million

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LHX in relation to earlier this year. Last month, Melanie Rakita, the VP & CHRO of LHX sold 2,180.00 shares for a total of $676,781.00.