L3Harris Technologies (NYSE:LHX – Get Free Report) had its target price lifted by equities researchers at Truist Financial from $224.00 to $250.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 21.03% from the company’s previous close.
A number of other analysts have also recently commented on the stock. UBS Group assumed coverage on shares of L3Harris Technologies in a research note on Tuesday, October 10th. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their price objective on shares of L3Harris Technologies from $211.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, November 28th. Deutsche Bank Aktiengesellschaft began coverage on L3Harris Technologies in a research note on Wednesday, September 27th. They issued a “hold” rating and a $192.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $225.00 price target on shares of L3Harris Technologies in a research note on Wednesday. Finally, Raymond James lifted their target price on L3Harris Technologies from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $224.53.
Get Our Latest Analysis on LHX
L3Harris Technologies Stock Down 0.7 %
LHX traded down $1.52 during trading on Thursday, hitting $206.56. The stock had a trading volume of 1,018,402 shares, compared to its average volume of 1,192,560. The stock has a 50 day simple moving average of $184.12 and a two-hundred day simple moving average of $184.58. The company has a market capitalization of $39.15 billion, a PE ratio of 26.61, a PEG ratio of 4.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.69 and a current ratio of 0.88. L3Harris Technologies has a twelve month low of $160.25 and a twelve month high of $221.03.
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its earnings results on Thursday, October 26th. The company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.13. L3Harris Technologies had a return on equity of 12.66% and a net margin of 7.96%. The firm had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.95 billion. During the same period in the previous year, the business earned $3.26 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, research analysts predict that L3Harris Technologies will post 12.33 earnings per share for the current year.
Insider Buying and Selling
In other L3Harris Technologies news, insider Edward J. Zoiss sold 4,742 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $190.00, for a total value of $900,980.00. Following the sale, the insider now directly owns 27,183 shares of the company’s stock, valued at $5,164,770. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.
Institutional Investors Weigh In On L3Harris Technologies
Large investors have recently bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new position in L3Harris Technologies during the second quarter worth about $30,000. GoalVest Advisory LLC increased its holdings in shares of L3Harris Technologies by 179.6% in the second quarter. GoalVest Advisory LLC now owns 137 shares of the company’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in L3Harris Technologies during the first quarter worth approximately $27,000. First Capital Advisors Group LLC. acquired a new position in L3Harris Technologies during the second quarter worth $29,000. Finally, Mascoma Wealth Management LLC purchased a new position in L3Harris Technologies during the third quarter worth about $27,000. 81.33% of the stock is currently owned by hedge funds and other institutional investors.
L3Harris Technologies Company Profile
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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