5 Most Oversold Large Cap Stocks to Buy

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

RSI Value: 26.90

Market Capitalization: $55.82 billion

L3 Harris Technologies, Inc. (NYSE:LHX) is among the most oversold stocks.

TheFly reported on May 4 that LHX saw its valuation outlook adjusted as Bernstein reduced the price target to $405 from $435 while maintaining an Outperform rating on the shares. The revision came after the company’s April 30 first-quarter earnings release, which exceeded expectations on both earnings and revenue. Earnings per share came in at $2.72 compared with consensus estimates of $2.53, while revenue reached $5.7 billion versus expected $5.4 billion.

On April 30, L3 Harris Technologies, Inc. (NYSE:LHX) disclosed that it has confidentially filed a draft Form S-1 registration statement with the U.S. Securities and Exchange Commission. The filing relates to a potential initial public offering of common stock for its missile solutions business segment. Key details such as the number of shares to be offered and the expected price range have not yet been determined.

The company noted that the proposed offering remains subject to market conditions, regulatory review, and completion of the SEC review process. The move represents an early step in evaluating a possible separation or public listing of the business unit, depending on future approvals and market environment.

L3 Harris Technologies, Inc. (NYSE:LHX) is a U.S. aerospace and defense company based in Melbourne. It provides communication, surveillance, electronic warfare, and mission systems across air, land, sea, and space for government and commercial customers.