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Tag: L3Harris Technologies Stock

  • A Recent Analyst Upgrade Sent L3Harris (LHX) Soaring

    A Recent Analyst Upgrade Sent L3Harris (LHX) Soaring

    L3Harris Technologies, Inc. (NYSE: LHX) shares embarked on a modest ascent during the preceding trading session, recording a 2.01% increase, culminating at a closing price of $174.36. This uptick in the value of L3Harris stock was attributed to a favorable assessment by an analyst. On Monday, Raymond James upgraded its rating for LHX stock from “MARKET PERFORM” to “OUTPERFORM,” maintaining the target price at $210.

    L3Harris (LHX) recently outperformed earnings expectations for the third quarter last week, capitalizing on the backdrop of escalating global military expenditures driven by geopolitical tensions. In addition, LHX, having finalized its acquisition of Aerojet in July, revised its annual projections for revenue and earnings to encompass the contributions of the rocket engine manufacturer.

    The ongoing strife in Ukraine has generated a surged demand for weaponry, including artillery, man-portable anti-aircraft missiles, and an array of armaments. This heightened demand has translated into highly remunerative agreements for American defense firms, facilitated by the U.S. Department of Defense.

    In light of that demand surge, L3Harris now expects that its annual revenues will fall within the bracket of $19.2 billion to $19.4 billion, with earnings spanning from $12.25 to $12.45 per share. The earlier projections by the company was revenues ranging from $18.0 billion to $18.3 billion and earnings ranging from $12.25 to $12.55 per share. Notably, L3Harris secured orders totaling $5.01 billion during the quarter ending on September 29.

    Subsequent to the successful integration and testing of hardware and software, in readiness for delivery, L3Harris is now in the final stages of the checkout process for the four missile-tracking satellites designed for the Space Development Agency’s (SDA) tracking tranche 0. Once these satellites are launched, they will establish a robust, multi-tiered military satellite network geared toward missile warning and defense, highlighting the agility in adapting capabilities and solutions to address the ever-evolving threat landscape.

    L3Harris is also experiencing positive developments attributable to initiatives aimed at enhancing supply chain resilience. Nonetheless, the complete recovery of the supply chain remains inconsistent. The company maintains close collaboration with its suppliers to mitigate potential future disruptions and has thus far been successful in addressing most of these challenges, thereby adapting to the evolving “new normal” within the realm of supply chain operations.

  • Under the spotlight: Aerospace & Defence Stocks

    Under the spotlight: Aerospace & Defence Stocks

    Rolls-Royce is now facing the most challenging time in its 114-year history because of the coronavirus crisis. By raising 5 billion pounds ($6.8 billion) in cash, the supplier to Airbus and Boeing Co (NYSE: BA) bought it time but warned that 2020 would be even worse than expected.

    The manufacturer of powerplants for British nuclear submarines might need to be saved by the state before it secured extra funds in November.

    Following last month’s reduction in Rolls’ debt rating to “junk,” Prime Minister Boris Johnson attempted to allay concerns, saying the government would work with the company to ensure its “long-term future” as a “great, great British company.”

    Rolls Royce is one of only four major manufacturers in the world of aero engines, symbolizing British industrial interests at a crucial time when the nation is attempting to assert its position in a post-Brexit world and struggling with uncertainty over the future trade relationships.

    The Boeing Company (NYSE:BA) shares were trading down -2.05% at $221.24 at the time of writing on Thursday. Boeing (BA) recently stated that the company and the University of Arizona put an age-old technique, thermal disinfection, to use in the fight against COVID-19.

    The Boeing Company (NYSE:BA) share price went from a low point around $89.00 to briefly over $349.95 in past 52 weeks, though shares have since pulled back to $221.24. BA market cap has remained high, hitting $127.12B at the time of writing, giving it price-to-sales ratio of more than 2.

    If we look at the recent analyst rating BA, UBS upgraded coverage on BA shares with a Buy rating and a $213.13 price target, which implies room for -8.11% downside momentum this year.

    EHang Holdings Limited (EH) last closed at $20.21, in a 52-week range of $7.59 to $24.38. The company achieved a significant milestone on the path to offering Urban Air Mobility (“UAM”) services worldwide. As On December 9, the Civil Aviation Authority of Austria issued a trial flight permit for the EH216 passenger-grade AAV. Analysts have a consensus price target of $13.00.

    Embraer S.A. (ERJ) stock drop by -0.96% to $7.22. The most recent rating by Morgan Stanley, on August 11, 2020, is at an Underweight.

    Kratos Defense & Security Solutions Inc. (NASDAQ:KTOS) Shares headed rising, higher as much as 6.63% following its announcement of successful completion of Kratos Valkyrie UAS AttritableONE flight test enabling the F-22 and F-35 5th flying of generation fighters in formation. The most recent rating by JP Morgan, on September 22, 2020, is at a Neutral.

    L3Harris Technologies Inc. (NYSE:LHX) fall -0.23% after losing more than -$0.42 on Thursday after reporting that it will host a conference call on Friday, January 29, 2021, at 8:30 a.m. Eastern Time (ET) to discuss its fourth quarter calendar year 2020 financial results.

    Lockheed Martin Corporation (LMT) last closed at $352.60, in a 52-week range of $266.11 to $442.53. Analysts have a consensus price target of $436.00.

    Northrop Grumman Corporation (NOC) stock drop by -0.44% to $300.68. On December 8, 2020, the company and Veritas Capital, revealed that Peraton, an affiliate of Veritas, has signed a definitive agreement to acquire Northrop Grumman’s federal IT and mission support services business for $3.4 billion in cash. The most recent rating by RBC Capital Mkts, on October 06, 2020, is at an Outperform.

    AMMO Inc. (NASDAQ:POWW) Shares headed falling, lower as much as -2.15% after reporting the closing of Underwriters’ $2.6 million over-allotment of common stock.

    Raytheon Technologies Corporation (NYSE:RTX) rose 0.10% after gaining more than $0.07 on Thursday.

    Virgin Galactic Holdings Inc. (SPCE) last closed at $25.50, in a 52-week range of $9.06 to $42.49. On December 14, 2020, the firm revealed an update following its recent test flight on December 12, 2020. Analysts have a consensus price target of $26.78.

    Spirit AeroSystems Holdings Inc. (SPR) stock drop by -1.30% to $36.37. The most recent rating by UBS, on December 07, 2020, is at a Buy.

    Smith & Wesson Brands Inc. (NASDAQ:SWBI) Shares headed rising, higher as much as 0.89% following the declaration from the firm that its Board of Directors has authorized the repurchase of up to $50 million of the company’s common stock through December 14, 202. The most recent rating by Aegis Capital, on September 24, 2020, is at a Buy.

    AgEagle Aerial Systems Inc. (AMEX:UAVS) rose 5.57% after gaining more than $0.17 on Thursday.