Why These Defense Stocks Are Declining This Week

7. L3Harris Technologies, Inc. (NYSE:LHX)

Weekly Decline: -4.11%

L3Harris Technologies, Inc. (NYSE:LHX) is known for its wireless and night vision equipment, command and control systems, avionics, and terrestrial and spaceborne antennas. It is among the defense stocks that are declining this week.

On March 7, Wells Fargo lowered L3Harris Technologies, Inc. (NYSE:LHX)’s price target from $269 to $268, while maintaining its Overweight rating. Later on March 10, Jon Rambeau, the company’s President of Integrated Mission Systems, was also reported to have sold shares worth $718,228.

L3Harris Technologies, Inc. (NYSE:LHX) was down by 4.11% over the past week. However, analysts expect the company’s shares to bounce back amid a growing demand opportunity from Europe.