L3Harris Technologies (NYSE:LHX) Given New $285.00 Price Target at Citigroup

L3Harris Technologies (NYSE:LHX - Free Report) had its price objective decreased by Citigroup from $291.00 to $285.00 in a research note published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

LHX has been the subject of several other research reports. Truist Financial dropped their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Susquehanna cut their price target on L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their target price on L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and a consensus target price of $262.67.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $0.82 during trading hours on Monday, hitting $199.79. 2,142,276 shares of the company's stock traded hands, compared to its average volume of 1,316,843. L3Harris Technologies has a 12-month low of $198.43 and a 12-month high of $265.74. The stock has a market capitalization of $37.89 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.75 and a beta of 0.76. The company has a fifty day simple moving average of $214.80 and a 200-day simple moving average of $230.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. Equities research analysts anticipate that L3Harris Technologies will post 11.19 EPS for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the transaction, the insider now owns 6,812 shares in the company, valued at $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,901 shares of company stock valued at $1,059,757 in the last quarter. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of L3Harris Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company's stock worth $1,004,418,000 after buying an additional 53,787 shares in the last quarter. FMR LLC raised its position in shares of L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company's stock valued at $475,653,000 after buying an additional 233,968 shares during the last quarter. Invesco Ltd. lifted its stake in shares of L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company's stock worth $485,215,000 after acquiring an additional 27,763 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.