L3Harris Technologies (NYSE:LHX) Price Target Cut to $229.00 by Analysts at Deutsche Bank Aktiengesellschaft

L3Harris Technologies (NYSE:LHX - Get Free Report) had its target price reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $250.00 to $229.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 10.44% from the stock's current price.

Several other equities research analysts have also recently weighed in on LHX. Citigroup boosted their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday. Argus upgraded 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, Truist Financial upped their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $267.73.

L3Harris Technologies Price Performance

NYSE LHX traded down $2.92 on Thursday, reaching $207.36. The company had a trading volume of 969,671 shares, compared to its average volume of 902,441. The stock has a market capitalization of $39.33 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm's 50 day moving average price is $236.03 and its 200 day moving average price is $233.94.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 earnings per share. As a group, equities analysts predict that L3Harris Technologies will post 13.09 earnings per share for the current year.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company's stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 7,889 shares of company stock worth $1,800,572 in the last three months. Corporate insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently made changes to their positions in LHX. KCM Investment Advisors LLC grew its holdings in L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company's stock worth $4,584,000 after acquiring an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter worth approximately $841,000. Sanctuary Advisors LLC boosted its stake in shares of L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company's stock valued at $7,602,000 after purchasing an additional 3,740 shares in the last quarter. Principal Financial Group Inc. increased its holdings in L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company's stock valued at $52,395,000 after buying an additional 4,321 shares during the period. Finally, Creative Planning raised its stake in L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company's stock worth $9,893,000 after buying an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

L3Harris Technologies Company Profile

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.