L3Harris Technologies Inc. ($LHX) Stock Forecast: Down 5.0% Today

What is L3Harris Technologies Inc.?

L3Harris Technologies (LHX) is a company specializing in aerospace and defense, known for producing the Patriot anti-missile defense system. The overall market sentiment towards defense stocks has been positive, with expectations of increased defense spending regardless of the election outcome.

Why is L3Harris Technologies Inc. going down?

LHX stock is down 5.0% on Jul 26, 2024 17:36

• L3Harris Technologies (LHX) saw a decrease in stock value despite exceeding EPS estimates for the second quarter of 2024.
• A downgrade by an analyst could have played a role in the market's negative view towards LHX.
• Despite L3Harris raising its 2024 forecast, optimism in defense stocks was overshadowed by the reaction to the analyst's downgrade.
• The disparity between surpassing EPS estimates and falling short of revenue projections likely influenced investor response, leading to the decline in LHX stock.

LHX Price Chart

LHX News

Harris Or Trump – Defense Stocks Are Winning, Tech Battle, Personal Income Drops, Trump Crypto Push

To gain an edge, this is what you need to know today. Defense Stocks Winning Please click here for an enlarged chart of Rtx Corp (NYSE: RTX ). Note the following: This article is about the big picture, not an individual stock. The chart of RTX stock is being used to illustrate the point. The market is reaching a consensus that defense stocks are winners irrespective of Trump or Harris winning the election. The consensus is that defense spending is going to go up irrespective of who wins. RTX is an aerospace and defense stock. RTX makes the Patriot anti-missile defense system. The chart shows that RTX stock has broken out after reporting earnings better than the consensus. The chart shows Arora buy zones giving readers of The Arora Report opportunities to buy RTX at great prices. As full disclosure, there is an RTX position in the Core Model Portfolio in The Arora Report''s ZYX Buy. There is also a trade around position on RTX. Trade around positions are a billionaire and hedge fund technique used to maximize risk adjusted returns.

https://www.benzinga.com/24/07/39987732/harris-or-trump-defense-stocks-are-winning-tech-battle-personal-income-drops-trump-crypto-push

This Southwest Airlines Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Friday - Southwest Airlines ( NYSE:LUV )

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page. Deutsche Bank analyst Scott Deuschle downgraded the rating for L3Harris Technologies, Inc.

https://www.benzinga.com/news/24/07/39982129/this-southwest-airlines-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-friday

LHX Stock Earnings: L3Harris Technologies Beats EPS, Misses Revenue for Q2 2024

L3Harris Technologies (NYSE:LHX) just reported results for the second quarter of 2024. L3Harris Technologies reported earnings per share of $3.24. This was above the analyst estimate for EPS of $3.17. The company reported revenue of $5.30 billion. This was 0.02% worse than the analyst estimate for revenue of $5.30 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

https://investorplace.com/earning-results/2024/07/lhx-stock-earnings-l3harris-technologies-for-q2-of-2024/

L3Harris raises 2024 outlook amid global tensions

https://www.investing.com/news/stock-market-news/l3harris-raises-2024-outlook-amid-global-tensions-3537832

https://www.investing.com/news/stock-market-news/l3harris-raises-2024-outlook-amid-global-tensions-3537832

L3Harris Technologies, Inc. Q2 Profit Increases, Beats Estimates

WASHINGTON (dpa-AFX) - L3Harris Technologies, Inc. (LHX) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.The company''s earnings…

https://www.finanznachrichten.de/nachrichten-2024-07/62826386-l3harris-technologies-inc-q2-profit-increases-beats-estimates-020.htm

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L3Harris Technologies Inc. Price History

13.01.2024 - LHX Stock was down 1.1%

• The bearish movement in LHX stock today can be attributed to recent acquisition news involving L3Harris Technologies' military training business. This development might have raised concerns among investors about the impact on LHX's future growth potential. Additionally, the overall market sentiment might have played a role in the bearish movement. Despite this, it is worth noting that L3Harris Technologies has consistently outperformed the market over the past 20 years, indicating its long-term strength.

09.09.2023 - LHX Stock was up 4.1%

• LHX had a strong bullish movement today.
• The market appears to reward a conservative framework, which may have benefited L3Harris Technologies as a tech stock that pays dividends.
• L3Harris Technologies' favorable competitive positioning and potential M&A upside could have contributed to the bullish movement.
• The company's strong performance over the past decade and its market capitalization of $32.02 billion may have also influenced the bullish market movement.

09.09.2023 - LHX Stock was up 7.3%

• The Israel-Hamas conflict has led to an increase in defense stocks, including LHX. This geopolitical tension has likely contributed to the bullish movement.
• The article mentioning L3Harris trading at a discount despite favorable competitive positioning and M&A upside could have also generated positive sentiment among investors, driving the stock's upward movement.
• L3Harris Technologies' strong performance over the past 10 years, outperforming the market, may have attracted investors and contributed to the bullish movement.
• The broader market's focus on conservative frameworks and tech stocks that pay dividends could have also played a role in the positive movement of LHX.

04.02.2024 - LHX Stock was up 1.6%

• L3Harris Technologies has outperformed the market over the past 20 years, showcasing a strong track record of growth and profitability, which likely contributed to the bullish movement.
• The company's consistent dividend hikes, rewarding shareholders for 23 consecutive years, could have attracted more investors, boosting the stock price.
• The US military deploying AI technology for warfare, potentially utilizing similar technology developed by L3Harris Technologies, might have created a positive sentiment around the company's future prospects, driving the bullish movement.
• The overall positive sentiment towards dividend-paying stocks, as seen with other companies announcing dividend hikes, could have also influenced investors to flock towards L3Harris Technologies, contributing to its bullish performance.

18.08.2023 - LHX Stock was up 1.7%

• The bullish movement in LHX stock today can be attributed to several factors:
• 1. Increased defense spending: L3Harris Technologies has been thriving on increased defense spending, as mentioned in an article from Seeking Alpha. This has led to a $25 billion backlog and the company securing major contracts. The positive outlook for defense spending has likely contributed to the bullish movement.
• 2. Expansion into space: L3Harris Technologies has been expanding into the space industry, as mentioned in an article from Seeking Alpha. This move has likely attracted investor interest and contributed to the bullish movement.
• 3. Strong historical performance: L3Harris Technologies has outperformed the market over the past 10 years, as mentioned in an article from Benzinga. This track record of consistent growth and solid returns has likely instilled confidence in investors and contributed to the bullish movement.
• Overall, the bullish movement in LHX stock today can be attributed to increased defense spending, expansion into the space industry, and the company's strong historical performance.

11.11.2023 - LHX Stock was up 2.3%

• LHX had a strong bullish movement today, and here's what might have caused it:
• The article about the best defense stocks to buy in December highlights the increase in defense spending worldwide and the United States' support for Ukraine, which could provide a revenue tailwind for defense stocks like LHX. This positive sentiment towards defense stocks could have contributed to LHX's bullish movement.
• The acquisition of Aerojet Rocketdyne by L3Harris Technologies, as mentioned in the article, is expected to bolster future growth prospects for the company. This news could have generated optimism among investors and led to the bullish movement.
• The article mentioning L3Harris Technologies' solid outlook heading into 2024 could have also influenced the positive market sentiment towards LHX. Investors may have been encouraged by the company's positive prospects and potential for growth.
• Overall, the combination of positive news regarding defense spending, the acquisition, and the company's solid outlook could have contributed to LHX's bullish movement today.

26.06.2024 - LHX Stock was down 5.0%

• L3Harris Technologies (LHX) saw a decrease in stock value despite exceeding EPS estimates for the second quarter of 2024.
• A downgrade by an analyst could have played a role in the market's negative view towards LHX.
• Despite L3Harris raising its 2024 forecast, optimism in defense stocks was overshadowed by the reaction to the analyst's downgrade.
• The disparity between surpassing EPS estimates and falling short of revenue projections likely influenced investor response, leading to the decline in LHX stock.

26.06.2024 - LHX Stock was down 5.5%

• L3Harris Technologies exceeded earnings per share estimates but fell short on revenue for Q2 2024, potentially disappointing investors and impacting the market negatively.
• The company's optimistic increase in its 2024 outlook amid global tensions could have initially boosted confidence, but concerns about growth emerged due to the revenue shortfall.
• Analyst downgrades and varied responses to the earnings results may have influenced the bearish market sentiment towards LHX stock.