L3Harris Technologies (NYSE:LHX - Free Report) had its price objective trimmed by Wells Fargo & Company from $300.00 to $269.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.
A number of other equities analysts also recently issued reports on LHX. Bank of America cut their target price on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. UBS Group boosted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Susquehanna decreased their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $261.47.
Check Out Our Latest Report on LHX
L3Harris Technologies Stock Performance
LHX stock traded up $1.33 during trading on Wednesday, hitting $206.23. The company had a trading volume of 1,245,205 shares, compared to its average volume of 1,351,318. The firm has a 50-day moving average price of $209.05 and a 200-day moving average price of $228.21. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a market cap of $38.84 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.
L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.
Insider Activity at L3Harris Technologies
In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the sale, the insider now owns 6,812 shares of the company's stock, valued at $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 4,901 shares of company stock valued at $1,059,757. Company insiders own 0.82% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of LHX. Raymond James Financial Inc. purchased a new stake in shares of L3Harris Technologies during the 4th quarter valued at $398,507,000. Invesco Ltd. raised its holdings in shares of L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after purchasing an additional 522,861 shares during the period. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the period. Deutsche Bank AG raised its holdings in shares of L3Harris Technologies by 64.2% in the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock worth $155,691,000 after purchasing an additional 289,514 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of L3Harris Technologies in the 4th quarter worth about $53,011,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
About L3Harris Technologies
(
Get Free Report)
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.
Featured Articles
Before you consider L3Harris Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and L3Harris Technologies wasn't on the list.
While L3Harris Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
