Fintel reports that on September 18, 2023, Wells Fargo upgraded their outlook for L3Harris Technologies (NYSE:LHX) from Equal-Weight to Overweight.

Analyst Price Forecast Suggests 37.63% Upside

As of August 30, 2023, the average one-year price target for L3Harris Technologies is 237.72. The forecasts range from a low of 165.64 to a high of $354.90. The average price target represents an increase of 37.63% from its latest reported closing price of 172.72.

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The projected annual revenue for L3Harris Technologies is 17,630MM, a decrease of 1.99%. The projected annual non-GAAP EPS is 12.90.

What is the Fund Sentiment?

There are 1928 funds or institutions reporting positions in L3Harris Technologies. This is a decrease of 107 owner(s) or 5.26% in the last quarter. Average portfolio weight of all funds dedicated to LHX is 0.31%, a decrease of 6.97%. Total shares owned by institutions decreased in the last three months by 1.09% to 183,016K shares. The put/call ratio of LHX is 0.76, indicating a bullish outlook.

What are Other Shareholders Doing?

Price T Rowe Associates holds 10,554K shares representing 5.58% ownership of the company. In it’s prior filing, the firm reported owning 9,548K shares, representing an increase of 9.54%. The firm increased its portfolio allocation in LHX by 131.59% over the last quarter.

Capital World Investors holds 10,142K shares representing 5.36% ownership of the company. In it’s prior filing, the firm reported owning 13,390K shares, representing a decrease of 32.02%. The firm decreased its portfolio allocation in LHX by 29.69% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,914K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 5,892K shares, representing an increase of 0.37%. The firm decreased its portfolio allocation in LHX by 7.62% over the last quarter.

Wells Fargo holds 5,041K shares representing 2.67% ownership of the company. In it’s prior filing, the firm reported owning 5,075K shares, representing a decrease of 0.67%. The firm increased its portfolio allocation in LHX by 183.28% over the last quarter.

AWSHX – WASHINGTON MUTUAL INVESTORS FUND holds 4,803K shares representing 2.54% ownership of the company. In it’s prior filing, the firm reported owning 4,974K shares, representing a decrease of 3.56%. The firm decreased its portfolio allocation in LHX by 11.93% over the last quarter.

L3Harris Technologies Background Information
(This description is provided by the company.)

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries.

This article originally appeared on Fintel

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