L3Harris Technologies (NYSE:LHX – Get Rating) had its price target boosted by Wells Fargo & Company from $219.00 to $230.00 in a research note released on Wednesday morning, The Fly reports. Wells Fargo & Company currently has an equal weight rating on the stock.
Several other analysts also recently weighed in on LHX. Truist Financial cut their price objective on shares of L3Harris Technologies from $264.00 to $255.00 and set a buy rating on the stock in a research report on Monday. Bank of America downgraded shares of L3Harris Technologies from a buy rating to a neutral rating and cut their price objective for the company from $285.00 to $250.00 in a research report on Friday, November 11th. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a neutral rating on the stock in a research report on Monday, December 12th. Raymond James downgraded shares of L3Harris Technologies from an outperform rating to a market perform rating in a research report on Friday, October 28th. Finally, Citigroup assumed coverage on shares of L3Harris Technologies in a research report on Thursday, December 8th. They issued a neutral rating and a $250.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of Hold and a consensus price target of $258.29.
L3Harris Technologies Trading Up 0.5 %
L3Harris Technologies stock opened at $215.85 on Wednesday. The firm’s 50-day moving average is $209.56 and its 200-day moving average is $223.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.40. L3Harris Technologies has a 1 year low of $189.73 and a 1 year high of $279.71. The company has a market cap of $41.10 billion, a P/E ratio of 39.56, a PEG ratio of 6.19 and a beta of 0.73.
L3Harris Technologies (NYSE:LHX – Get Rating) last posted its quarterly earnings results on Friday, January 27th. The company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.06. L3Harris Technologies had a net margin of 6.22% and a return on equity of 13.20%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the firm posted $3.30 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts expect that L3Harris Technologies will post 12.64 earnings per share for the current year.
Insider Transactions at L3Harris Technologies
In other news, VP James P. Girard sold 5,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $229.38, for a total value of $1,146,900.00. Following the transaction, the vice president now directly owns 7,144 shares of the company’s stock, valued at $1,638,690.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP James P. Girard sold 5,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $229.38, for a total value of $1,146,900.00. Following the transaction, the vice president now directly owns 7,144 shares of the company’s stock, valued at $1,638,690.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dana A. Mehnert sold 1,985 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $227.25, for a total transaction of $451,091.25. Following the completion of the transaction, the insider now directly owns 23,830 shares in the company, valued at $5,415,367.50. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
Institutional Trading of L3Harris Technologies
Several institutional investors have recently made changes to their positions in LHX. BlackRock Inc. boosted its holdings in shares of L3Harris Technologies by 15.1% during the third quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock worth $2,975,043,000 after purchasing an additional 1,875,236 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in L3Harris Technologies by 17.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,758,276 shares of the company’s stock valued at $2,028,151,000 after acquiring an additional 1,448,364 shares during the last quarter. Cowa LLC acquired a new stake in L3Harris Technologies in the first quarter valued at approximately $26,000. Ceredex Value Advisors LLC acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $105,527,000. Finally, CIBC Private Wealth Group LLC lifted its stake in L3Harris Technologies by 78.3% in the second quarter. CIBC Private Wealth Group LLC now owns 998,109 shares of the company’s stock valued at $241,243,000 after acquiring an additional 438,239 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.
About L3Harris Technologies
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company’s Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.
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