- L3Harris Technologies (LHX) is a leading aerospace and defense innovator, showing strong technical momentum and consistent price appreciation.
- LHX maintains a 100% “Buy” opinion from Barchart.
- Shares are up 26% in the past year and are trading at all-time highs.
- LHX’s growth outlook and broad investor support reinforce its favorable technical and fundamental profile.
Today’s Featured Stock
Valued at $54.1 billion, L3Harris Technologie (LHX) 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 space, air, land, sea, and cyber domains.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. LHX checks those boxes. Since the Trend Seeker signaled a "Buy" on Aug. 19 the stock gained 7.46%.
LHX Price vs. Daily Moving Averages:
Barchart Technical Indicators for L3Harris Technologies
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Harris hit an all-time high of $293.32 in morning trading on Sept. 26.
- LHX has a Weighted Alpha of +33.48.
- Harris has an 100% “Buy” opinion from Barchart.
- The stock gained 26.39% over the past year.
- LHX has its Trend Seeker “Buy” signal intact.
- Harris is trading above its 20-, 50-, and 100-day moving averages.
- The stock made 9 new highs and gained 5.4% in the last month.
- Relative Strength Index (RSI) is at 72.10.
- There’s a technical support level around $286.53.
Don’t Forget the Fundamentals
- $54.1 billion market capitalization.
- 23.67x trailing price-earnings ratio.
- 1.64% dividend yield.
- Revenue is projected to grow 1.3% this year and another 6.54% next year.
- Earnings are estimated to decrease by 19.64% this year but increase again by 17.24% next year.
Analyst and Investor Sentiment on L3Harris Technologies
I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping stock, it’s hard to make money swimming against the tide.
It looks like Wall Street analysts are high on LHX and so are individual investors.
- The Wall Street analysts tracked by Barchart have issued 12 “Strong Buys,” and 6 “Hold” opinions on the stock.
- Their price targets are between $250-$325.
- Value Line gives the stock its “Average” rating but with a price target of $300.
- CFRA’s MarketScope Advisor rates it a “Hold.”
- Morningstar thinks the stock is fairly valued.
- 1,618 investors following the stock on Motley Fool think the stock will beat the market while 83 think it won’t.
- 36,9100 investors monitor the stock on Seeking Alpha, which rates the stock a “Buy” and comments: “LHX exhibits strong growth and profitability metrics, supported by positive momentum and favorable revisions. Despite a relatively high valuation, the stock’s promising outlook supports its Buy rating.”
The Bottom Line on LHX
LHX appears to have backing not only from Wall Street, but also from other financial advisory sites and individual investors.
Today’s Chart of the Day was written by Jim Van Meerten. Read previous editions of the daily newsletter here.
Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
